Earlier quoted context omitted.
So there are fairly strong regulations on what other things a bank can do. I can't remember exactly what it entails. It's possible Amazon could get around that with holding company structure or something, but I'm not sure. I agree with your general point though, maybe just not the bank part. Edit1: It's not reg W, damn I cannot remember which section describes this. There's too many bank regs in the US. Edit2: ok 12…
There's a lot of banking regulations but Amazon has enough money to either buy an existing online solution or develop their own
In the US, owning a bank changes the regulatory status of the entire legal entity structure. This cannot be evaded with shell companies, etc. Specifically, “any company that controls a bank” is a Bank Holding Company and is regulated by the Federal Reserve (regardless of where the controlled bank is chartered). Being regulated by the Fed is a big deal and they can and will poke around in your non-bank subsidiaries (which are, after all, assets of the Bank holding company).