General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWalmart Wants to get into Banking!
I couldn't even imagine how bad a Wally-world bank would be.
I suspect Bank of America would have a new rival for the title: "Worst Bank in America"
malthaussen
(17,200 posts)The potential for profit there is breathtaking. Every town should have a Wal-School.
-- Mal
Veilex
(1,555 posts)They could charge states for materials, and bank-roll the schools through a newly established wally-world-bank!
Sends shivers down my spine!
malthaussen
(17,200 posts)Forget redeye missiles, think Wall-eye missiles!
-- Mal
Xithras
(16,191 posts)Like everything else at WalMart, they'd be inferior knockoffs...
thecrow
(5,519 posts)how much interest would you have to pay them?
Marrah_G
(28,581 posts)Nye Bevan
(25,406 posts)No overdraft or bounced check fees. I can see why the big banks are nervous about this.
.....
The issue still rankles with many bankers.
With this new partnership, it begs the question of Walmarts role in the financial services sector, whether the CFPB should explore ensuring Walmart is responsibly serving consumers in the financial services arena, says Richard Hunt, president and CEO of the Consumer Bankers Association.
The CFPB did not respond to requests for comment.
http://www.theguardian.com/money/us-money-blog/2014/sep/25/walmart-banks-checking-accounts
lpbk2713
(42,757 posts)putting parking meters in their parking lot they would do it. Maybe that really
is on the agenda after they are sure they have run all the Mom & Pop stores
off and shoppers have absolutely no where else to buy Third World crap.
sandpan
(34 posts)I'm having a deja vu! Didn't Walmart trot out their banking idea about fifteen years ago? If I remember correctly, they got the same answer from the "too big to fail" banks.
redstatebluegirl
(12,265 posts)Jim Walton is CEO.
FreakinDJ
(17,644 posts)Fuck them "Silver Spoon in Mouth" Lil' Pricks
Hope they get taken for a ride
JEFF9K
(1,935 posts)I haven't heard that one before.