FDIC eases path for Amazon and Facebook to become lenders
Jesse Hamilton, Bloomberg News
The logo for Amazon.com Inc. is displayed on an Apple Inc. iPhone in an arranged photograph taken in the Brooklyn borough of New York, U.S., on Friday, April 10, 2020. Across the country, millions of consumers are turning to Amazon.com and other services to fill their fridges via online delivery rather than brave going to a supermarket because of shelter-in-place declarations during the coronavirus pandemic. Photographer: Gabby Jones/Bloomberg
, Bloomberg
Amazon.com, Facebook Inc., Walmart Inc. and other corporate giants may soon give Wall Street a run for its money as a key U.S. regulator smooths the path for nonbanks to get into lending.