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It’s Bankers vs. Wal-Mart (WMT) In Push To Force Financial Regulation Upon The World’s Largest Retailer

Friday, May 10, 2013 - 9:09 AM
If Wal-Mart were to be designated as a significant provider of financial services, it would have to submit regular reports to the Federal Reserve, the Financial Stability Oversight Council and the Federal Deposit Insurance Corporation on the company's credit exposure.

Now, a document acquired by Bloomberg through the Freedom of Information Act shows just how concerned bankers are about Wal-Mart’s efforts to move into services traditionally provided commercial banks.

It’s Bankers Vs. Wal-Mart (WMT) In Push To Force Financial Regulation Upon The World’s Largest Retailer
5
ShorebreakShorebreak2,376 posts since
Apr 6, 2010
Rep Points: 12,693
1. Friday, May 10, 2013 - 1:22 PM
It is kind of funny.  Wal-mart originally wanted a bank charter, but they were blocked.  So they formed  partnerships to get what they wanted.  Now, they want them to have to be treated like a bank?!?  A little bit of sour grapes I think.

cd :O)
2
ChrisCDChrisCD66 posts since
Nov 18, 2010
Rep Points: 409
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