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It's WalMart

So it must be bad.
Of course when you're talking "the big picture" this cracks me up.
Here are the U.S. banks (too big to fail) FIGHTING what THEY perceive as over regulation.
Then WalMart says they might want to get into banking - and what do our too big to fail banks say WalMart needs?
More regulation and oversight:
http://money.msn.com/now/post.aspx?post=e27c3940-5a47-467e-b558-568c5ce2...

Snip
"The council urged the Fed to consider limiting payment-related services like prepaid cards to "regulated banking institutions" or to step up regulation of that business. It also suggested the government unleash the Consumer Financial Protection Bureau, created by the 2010 Dodd-Frank law, on nonbank companies like Wal-Mart that provide financial services.

Banks are becoming a fairly regular opponent of Wal-Mart and haven't been shy about teaming up with some of the chain's other enemies to block expansion onto their turf. In 2005, banks joined labor unions and community groups to oppose Wal-Mart's application to open a limited-service bank based in Utah. The retailer eventually abandoned that plan.

In 2011, banks asked the consumer bureau to consider Wal-Mart as a "larger participant" in financial services, which would lead to direct oversight."

Yah gotta love the banks

Vog

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