The Walmart as a bank story returns
The Walmart plans that caused all the stir 4 years ago is resurfacing in a different form as they increase their ownership in a small bank.
Walmart extends its banking interests | ft.com
Green Dot, which provides support for Walmart’s pre-paid cards, said this month that it had issued more than 2m shares to Walmart, following an agreement in May that extended the existing alliance between the companies until 2015.
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Colin, it feels like I just stepped in a time machine.
Trey Reeme
June 15, 2010 at 23:21
@Trey … I felt exactly that!
Colin Henderson
June 16, 2010 at 23:29
HELLO, EARTH TO COLIN AND TREY!
Walmart has been in “banking” for a while now, and quite successful at it.
Might not match 100% your definition of “banking” (checking accounts issued at places called branches), but to the customers it serves, it’s certainly a “financial” service.
Ron Shevlin
June 17, 2010 at 11:00
Thank you Ron for bringing us back from outer space
it just feels like they have been under the radar since the uproar in 2006.
Colin Henderson
June 18, 2010 at 12:51
The happenstance is uncanny: Filene is just now editing a report from Dr. Bob Manning about Walmart’s Mexican bank and what it portends for the U.S. market. Anybody wants a draft copy, shoot me an email.
Ben Rogers
June 28, 2010 at 09:44