Wal-Mart to expand into Banking?

Serious Paul · Post by **Serious Paul** » Thu Jun 21, 2007 1:07 pm

Maybe noot just yet, but it seems pretty likely they will eventually get there.

Johnny the Bull · Post by **Johnny the Bull** » Fri Jun 22, 2007 6:40 am

I shudder at the thought. "Mortgage defaults, aisle 12."

Daki · Post by **Daki** » Wed Jun 27, 2007 3:44 pm

It's certainly in-line with their plans to create one-stop shopping for people. Chains like Sears already have agreements with financial institutions to create offices in their stores (Sears/H&R Block is the prime example I'm thinking of).

Serious Paul · Post by **Serious Paul** » Wed Jun 27, 2007 4:22 pm

What worries me is that once stores like Wal-Mart have consolidated their control over every aspect of the shopping experience-from cashing your check, to spending it, to savings, and investments-who is to guarantee that they will be responsible with this control?

Daki · Post by **Daki** » Wed Jun 27, 2007 5:17 pm

I doubt there is any guarantee that will keep fears like that from popping up. However, Wal-Mart is facing a bit of a problem with the upcoming increases in minimum wage.

Johnny the Bull · Post by **Johnny the Bull** » Thu Jun 28, 2007 5:19 am

Serious Paul wrote:What worries me is that once stores like Wal-Mart have consolidated their control over every aspect of the shopping experience-from cashing your check, to spending it, to savings, and investments-who is to guarantee that they will be responsible with this control?

It will be another GE Finance.