Ask HN: Why do Big Tech companies not acquire banks?

3 points

6 years ago

With the recent transaction of PNC and BBVA with a cost of 12bn I was wondering if it would be possible that a non financial institution could buy a bank.

According to this [1] Alphabet had 100bn in cash on 2019 so it seems something possible.

Is it just a regulatory matter? Why would regulators care on who owns a bank?

[1] https://www.cnn.com/2019/02/04/investing/google-alphabet-cash-dividend/index.html

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