Significant Regulatory Questions Surround Amazon Checking Account Partnerships

News of Amazon in talks with JPMorgan Chase and Capital One to offer a checking account product has brought up a number of regulatory questions; key questions include who owns the customer, what is Amazon’s role in the accounts, who regulates Amazon in this instance and will Amazon need to become a bank; while details of the deal are not fully known regulators will be keeping a close eye on the partnership. Source.