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Alarm over US regulator's call to let retailers, tech giants be banks

Combining banking and commerce is a bad idea as it puts customers' deposits at risk, say small Main Street banks

New York

SMALL Main Street banks vowed on Wednesday to fight any review of a ban that prevents retailers such as Wal-Mart Stores Inc and tech companies like Amazon.com Inc from becoming fully fledged banks.

Keith Noreika, a top US banking regulator, stirred disquiet among community

sentifi.com

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