Google in talks to move into banking

Google is talking to US banks about offering current accounts to its customers, accelerating Silicon Valley’s incursion into financial services after Apple’s credit card launch and Facebook’s proposed digital currency Libra.

Google’s move could further alarm lawmakers already anxious about the concentration of increasingly intimate personal information within a few big tech companies. After Facebook has run into widespread resistance to Libra, Google has said it wants to “partner deeply” with existing financial services providers.