The Bankwatch

Tracking the evolution of financial services

The Walmart as a bank story returns

The Walmart plans that caused all the stir 4 years ago is resurfacing in a different form as they increase their ownership in a small bank.

Walmart extends its banking interests | ft.com

Green Dot, which provides support for Walmart’s pre-paid cards, said this month that it had issued more than 2m shares to Walmart, following an agreement in May that extended the existing alliance between the companies until 2015.

Technorati Tags: Walmart

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    Written by Colin Henderson

    June 15, 2010 at 21:06

    Posted in Uncategorized

    « A scenario where US debt repayment approaches 50% of tax revenue
    Early warning signs of Spanish banks in trouble »

    5 Responses

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    1. Colin, it feels like I just stepped in a time machine.

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      Trey Reeme

      June 15, 2010 at 23:21

    2. @Trey … I felt exactly that!

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      Colin Henderson

      June 16, 2010 at 23:29

    3. HELLO, EARTH TO COLIN AND TREY!

      Walmart has been in “banking” for a while now, and quite successful at it.

      Might not match 100% your definition of “banking” (checking accounts issued at places called branches), but to the customers it serves, it’s certainly a “financial” service.

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      Ron Shevlin

      June 17, 2010 at 11:00

    4. Thank you Ron for bringing us back from outer space spacer it just feels like they have been under the radar since the uproar in 2006.

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      Colin Henderson

      June 18, 2010 at 12:51

    5. The happenstance is uncanny: Filene is just now editing a report from Dr. Bob Manning about Walmart’s Mexican bank and what it portends for the U.S. market. Anybody wants a draft copy, shoot me an email.

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      Ben Rogers

      June 28, 2010 at 09:44


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