This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
4/12/2006
Hooray For Wal-Mart Banking!
As I read The Case for Smal Government blog, a Wal-Mart Banking post really appealed to me. The author had a great point. He basically said that if Wal-Mart could offer banking what it has offered the world of retail, than it would be a great thing. I completely agree! Finance is my field, and I don't feel threatened by Wal-Mart's possible emergence in the banking world. Perhaps they could bring something to the table lthat traditional banks have not. It remains to be seen what will ultimately come to pass from Wal-Mart in terms of its blending of banking and retail, but the future looks bright.
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2 comments:
I welcome Wal-Mart's application as an ILC in Utah. I think that it isn't going to be successful. Because ILC's are legally prohibited from entering into demand-based or transaction-based deposits (such as checking accounts, demand savings accounts, and lines of credit), Wal-Mart will not be able to do business with its typical client-base. The typical Wal-Mart client is not going to go in and open a 12-month CD. They want lines of credit and checking accounts. Even if Wal-Mart were allowed a charter to process credit card payments, it wouldn't be able to advance much further than that.
-1 on Blake's post for a spelling error.
-1 on Hannah's comment for a spelling error.
I think all the points here are right on the money.
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