Google Bank: A Good Idea?
Recently, we took a look at the controversy surrounding Wal-Mart becoming a bank. Because the company has such major economic muscle, many feel that it would unfairly take over a banking industry that is struggling to get back on its feet.
But with hundreds of banks having gone bankrupt and others tightening up their lending practices while maintaining lower interest rates on bank accounts, other entities have room to step up to the plate. This includes Wal-Mart and another major economic force: Google.
The possibility of Google becoming a bank has been in the news for a few years; however, it has yet to do so. But with the company venturing into so many other industries, does it make sense for it to get into the banking business also?