From the Chicago Tribune:
At a federal hearing that matched the nation's largest trade association against the world's biggest retailer, Wal-Mart Stores Inc. continued to face ringing denouncements Tuesday about its plans to acquire a limited bank charter, though a regulator floated the idea of a possible conditional approval.Conditional approval? Sounds like a winner to me.
Did you know that Target already owns a bank? So, Target can do it, but Wal-Mart can't?
The Motley Fool has some interesting words on the whole thing; in short:
Comparing Wal-Mart's track record with that of the bankers, I have to say I'm more inclined to trust the former than the latter.Not trust a banker? Nah.