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Finally.
The Wall Street Journal reported Monday morning that Amazon is in talks with several banks to launch a "checking account-like product." The report helps answer one of the most oft-asked questions on Wall Street: When's Amazon going to show up? It also confirms predictions for how a company like Amazon might enter the market.
JPMorgan Chase, one of the banks Amazon is reportedly in talks with, has clearly been thinking about the Amazon effect for some time. Speaking at JPMorgan's investor day, CEO Jamie Dimon quoted Amazon's CEO, saying: "Jeff Bezos says 'Your margin is my opportunity.'"
The risk for Wall Street is that it's now their margin that's Amazon's opportunity. Here's our story.
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- We just got our first indication that Paul Ryan may directly challenge Trump on his tariffs
- Trump's own pick for Fed chair said "the tariff approach is not the best approach" - and it highlights the dangers of a trade war
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