UK watchdog labels Big Tech a threat basic bank accounts

By Staff Writer on Dec 19, 2018 6:57AM

UK watchdog labels Big Tech a threat basic bank accounts

Undermines ability to offer free accounts.

Amazon, Google and other Big Tech companies could compete with banks in basic products and undermine their ability to offer free accounts, Britain's financial watchdog said on Tuesday. The Financial Conduct Authority published its final report on its study of retail banking business models, ...

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