Walmart Abandons Plan To Become A Bank
Walmart announced today that it was abandoning its plan to become a bank, following months of debate and one Consumerist post. Teehee. From MSN (emphasis added):
"Since the approval process is now likely to take years rather than months, we decided to withdraw our application to better focus on other ways to serve customers," said Wal-Mart Financial Services President Jane Thompson in a statement.Walmart got caught with its hand in the mortgage jar. Busted. —MEGHANN MARCO"We fully intend to continue to introduce new products and services that champion those who deserve convenient, lower priced financial services," she added.
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The latest development also comes one day after a U.S. lawmaker released an e-mail Thursday he said indicates the company's interest in consumer banking extends beyond what it had previously disclosed to banking regulators.
Walmart abandons plans for a bank [MSN]
(Photo: BraveNewFilms)
Attention, Walmart shoppers! This ad is for you! Woo hoo!
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Comments:
Wal-Mart planned to fuck over it's customers? Who would've thought?
This actually I think is a bit of a shame.
Wal*Mart is an evil vile corporation, but why should Target own a Bank but Wal*Mart not?
Because Target is 1% less evil than Mal-Wart.
Walmart Bank customer profiling:
1) Lost all personal wealth buying cheap Walmart crap;
2) Lost job to Walmart, now working there.
But seriously, folks, thank god someone in Washington was awake and deterred this, at least for a while.
Because Target is 1% less evil than Mal-Wart.
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Target probably is a better store, I think they all suck myself.
But you have to wonder, is Target a better store because the same Pepsi, Tide, "When Harry Met Sally" and Quaker State Oil you can buy at Wal*Mart costs more at Target?
People go on and on about the cheap crap there but from what I can, all the other stores sell the same cheap crap for more.
Oh well. It is cool to bash Wal*Mart these days...
All I can say is, THANK GOD. I don't know who would want some disgruntled minimum wage-paid walmart employee handling their bank info.