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 … I felt exactly that!
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.
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.
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.