The american bankers association says you should.....
2007-03-14 06:15:02 · 5 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
WalMart under the Gramm Leach Bliley Act is not permitted to become a financial institution but like any other retail outlet they are permitted to offer in house financing for their items.
I personally do not like WalMart or what they stand for even though I think the banking industry could always use some good competition - I believe that credit union's better serve the general public and letting WalMart into the world of high finance only makes them a stronger player on the worlds stage and I personally would hate to see that happen.
If it ever were to happen you can bet your bottom line that it would be geared towards the credit challenged individuals and would be nothing more than an over charged finance company - Yet another way to take advantage of those who do not understand the importance of using their credit wisely...
2007-03-14 06:34:05 · answer #1 · answered by M B 5 · 0⤊ 0⤋
No. The American Bankers Associations wants to keep others off their turf and minimize competition.
2007-03-14 13:22:18 · answer #2 · answered by jack w 6 · 0⤊ 0⤋
Banking would be easier and have fewer expenses if Wal-Mart was allowed to be a competitor of banks.
The major banks such as Bank of America, Chase, CitiCorp all want to keep a large corportation like Wal-Mart from taking their business away.
2007-03-14 13:50:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No. More competition in the banking business would be welcome. There would be lower fees and penalties on credit cards and checking accounts, and the consumer would have more choice and convenience
2007-03-14 13:23:06 · answer #4 · answered by espreses@sbcglobal.net 6 · 0⤊ 0⤋
No,but first they should give their employees health care and better living wages though.
2007-03-14 13:21:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋