Don’t Bank On It Wal-Mart

In case anyone would like to urge the FDIC to proceed with caution regarding any attempt by Wal-Mart to enter the banking business, you may express your concerns to:

John F. Carter
Regional Director
Federal Deposit Insurance Corporation
25 S. Jessie Street at Eker Square, Suite 2300
San Francisco, CA 94105

Mr. Carter has already heard from the Independent Community Bankers of America, the National Association of Convenience Stores, and the National Grocers Association.

Tom Boese
Field Producer - Wisconsin
Brave New Films

yes, we must stop anyone that is successful!  that is the union way!

hello?!?? the whole reason they’re applying for an ‘industrial charter bank’ in frickin Utah is cuz that’s the only place that still has the old pre-’29 crash laws in effect. they are trying to abuse a loophole that would circumvent the main law in place against one business conducting both commerce and banking....it has nothing to do with unions!!!!! i cannot believe there are so many outright imbeciles out there who think it would be a GOOD idea for walmart to have a bank! for cryin out loud people, they are going to be the end of us all......if walmart gets a bank, next thing ya know, we’ll need the Mark of the Beast to shop at walmart!!!

If WM goes into the Banking Business to compete with Wells Fargo, Associated Bank, Us Bank, Bank of America, member owned Credit Unions, etc., what’s to stop them from going into the Car Dealership business?

Nothing will stop them - until people stop shopping there.  Plain and simple.

Wal-Mart is only interested ina bank for processing it’s own credit/debit and electronic check transactions.

Why aren’t you all screaming about Target’s banking business?
The Target Family
The Target family includes:

Target National Bank, which issues the Target Visa and Target Card
Target Stores and Web sites
Target Bank, which issues commercial card accounts.
Target Commercial Interiors

To Brendan in WI - “they are going to be the end of us all”?  Yeah, right after the boogieman union cronies!  Do you and Tom live in the same house in WI?  What a couple of idiots!!

To Tom in WI - How much did your union stiffs give you to make the movie?  Oh, I know, they didn’t give you anything!  Yeah, yeah, yeah,............

Never seen it, never will.

Do you know what will happen if Walmart goes into the banking industry?  Banking will become more competitive and we will get better service.  ATMs might even become free.

WalMart’s wages are competitive and them starting a banks a good idea.  I am not a Wal-Mart fan, but you guys pick on Wal-Mart too much.  I think the low wages and wrong doings of the fast food business out weigh Walmart by 100-1

Walmart will use their bank to screw their employees out of more money. They will issue their employees debit visa or mastercards and will not give them a choice as to how they are paid - their wages will automatically be deposited into their debit card accounts. Then, all they have to do is charge fees for each transaction and bilk their employees for a good percentage of their earnings. Just watch.......

Big T:  Good point ... competition is, 99.999% of the time, a good thing for the consumers.  I’m tired of paying $2.50 to use my card at a non-bank ATM ... in that vein, WMTs (or any other retailer that does) cash-back on purchase is a great deal ... I get cash anywhere in the USA without having to pay an ATM fee.

Mark:  What are you smoking?  I don’t know what they put in the Ohio weed, but you should back down.  Unless you’ve got some sort of internal WM-eyes-only memo indicating that WM actually plans to break federal law by only direct-deposting funds into a specific account ... you’re on a rant, my man.  Try to put your feet back on the planet Earth.

All:  Has anyone seen the news story today about how deeply invested in financial services COSTCO is?  Granted, they’re partnering with other providers, but all that means is that if you’ve got a Costco membership, Costco is selling your personal data to other parties. 
And Target has its own bank to process card transactions.

I still can’t understand what the problem with WMT processing their own cards is.

Union Gives Empty Presents to Kids
Union Activists true nature: making little children cry.  I hope everyone has read the Washington Times story of how union activists recently handed out empty presents to children at a Wal-Mart causing the poor little kids to cry. 

Just goes to show you unions will do anything - even hurt children.

Read the story here:
http://www.washingtontimes.com/op-ed/20051219-093818-6601r.htm

Washington Times, Dec 20, 2005
Columnist: Joel Mowbray

I think I’d like it better if you didn’t post anymore about Wal-Mart.

Thanks.