Wal-Mart, the world’s largest retailer, plans to have as many as 1,500 “Money Centers,” or financial services operations that can cash checks, pay bills, and fill out tax forms, among other things.Money centers have generally catered to customers who do not have banks. Wal-Mart cannot lend money or guarantee deposits.Wal-Mart tried to obtain a bank charter in 2007, but criticism from lawmakers and banking industry officials pushed the company to withdraw its application… Customers with no banks….. thats why there are so many cash transactions and mattresses in the parking lots….
Tags: Wall Street Journal, Walmart
March 20, 2010 at 4:58 pm |
good idea, maybe we should sub out the Federal Government to Walmart in a joint venture with Disney World.
March 20, 2010 at 11:57 pm |
The First Walmart Bank may not be that bad….