Why Banking With Amazon Could Be a Win-Win for Everyone
Amazon is reportedly poised to jump into yet another industry: banking. And that could be a win-win for everyone involved, according to Emily Glazer, the Wall Street Journal reporter who broke the [story](https://www.wsj.com/articles/are-you-ready-for-an-amazon-branded-checking-account-1520251200?reflink=e2twmkts).
“This idea of Amazon coming into the financial services as more of a partner than a disruptor is huge for the banks,” Glazer told Cheddar on Monday.
“Banks would have an...advantage of tapping into Amazon’s data [and] their technology.”
In return, Amazon could enter the financial space without “having to deal with the stringent regulations and capital restrictions...that come with becoming a bank.”
The tech giant is reportedly in talks with JPMorgan Chase to build a checking account-type product for its customers. Though still in its early stages, the idea is to serve a younger generation, particularly those who don't now have bank accounts.
Amazon has branched out far beyond its core online retail service and entrenched itself as an essential part of many consumers’ daily lives. But its access to such vast amounts of data is unlikely to scare off many customers, said Glazer.
“Millennials don’t care as much about privacy and security as other generations,” she said. “That’s why they’re using Venmo and not worried about Venmo selling their data.”
For the full interview, [click here](https://cheddar.com/videos/why-amazon-might-be-looking-to-team-up-with-big-banks).
Lawmakers in several states are embracing legislation to let children work in more hazardous occupations, longer hours on school nights and in expanded roles including serving alcohol in bars and restaurants as young as 14.
Target once distinguished itself as being boldly supportive of the LGBTQ+ community. Now that status is tarnished after it removed some LGBTQ+-themed products and relocated Pride Month displays to the back of stores in certain Southern locations in response to online complaints and in-store confrontations that it says threatened employees’ well-being.
With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation's debt limit.
The average long-term U.S. mortgage rate rose this week to its highest level since mid March, driving up borrowing costs for prospective homebuyers facing a housing market that’s constrained by a dearth of homes for sale.
On this edition of Stretching Your Dollar, Corey William Schneider talks about how he made exploring the city a full-time job by founding the New York Adventure Club.
Facebook owner Meta on Wednesday cut positions across its business and operations teams in the final round of layoffs that were first announced in March.
The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday, a slight upgrade from its initial estimate.
