Wal-Mart Offers Checking and Debit Service in the U.S./Banco de Wal-Mart in Mexico, Business and Industry Trends Analysis

For years, Wal-Mart, the world’s largest retailer, unsuccessfully attempted to acquire a bank charter in the U.S., which would enable it to offer banking services to its enormous customer base (Wal-Mart has a bank charter for its stores in Mexico and a charter in Canada, but not in America). While Wal-Mart cannot operate as a bank in the U.S., it can enable banking firms to offer their products in Wal-Mart stores.  In October 2014, Green Dot Corp., an FDIC member bank, began offering checking accounts in Wal-Marts to anyone over 18 years of age who meets the requirements of an…

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