This is exactly why I leave very little money on any card that has electronic access to my reserves, and that’s on my bank card. I can’t imagine being at the mercy of cards controlled by retailers not under the jurisdiction of the FDIC and bank regulators (yeah I know, don’t laugh to hard, but […]
Archive for the 'Banking' Category
video platformvideo managementvideo solutionsvideo player This report from Houston sure seems to make the case: It’s tax season and many of us are looking forward to the day we get our tax refund. “I got my income tax this morning,” said Amber Calzada who had her refund deposited into her Walmart Money Card account. But […]
Robert Reich writes: What does the drama in Washington over the “fiscal cliff” have to do with strikes and work stoppages among America’s lowest-paid workers at Walmart, McDonald’s, Burger King, and Domino’s Pizza? Everything. Tell your representatives in Washington to stop sucking up to very richest of Americans and start acting responsibly for the rest […]
Canadians can now request and carry the official Walmart MasterCard courtesy of the federally licensed Walmart Canada Bank. The first question I have is does it work in the United States (it should) is there any prohibition of an American getting one? I’m betting there isn’t, specially if there is a bank online option. Walmart […]
It would be easy to simply wish a plague on all their houses, but that would be shirking responsibility. Yet the question of hidden (to the consumer) interchange fees on your plastic is important, even if I confess that my head hurts when I try to figure it all out. Suffice it to say that […]
Perhaps the decision is the result of group hate, perhaps the move is a throw-the-bums-out dynamic. Perhaps Canadians have simply lost their minds. I can’t tell, but now Canadians are going to start loaning money directly to Walmart. I can’t help but feel that this will not turn out well. From Financial Post: Wal-Mart would […]
We written much about Walmart’s quest to corner the market on the banking industry and the consistent failures in the effort. It looks now that Walmart has decided that it can accomplish most of what it wants with its pseudo banks. From Talk Business: Wal-Mart says it will add 500 more money centers to its […]
That’s what the unemployed/retired people who can listen to Rush Limbaugh’s program now think after listening to his show this afternoon. I’m willing to bet a steak dinner that you’d be hard pressed to find a Rush listener who understands what nationalization is. Here’s exactly what Rush said: Walmart focuses on their customers but they’re […]
Why can’t financially “underserved Americans” just go get a checking account?
I read this story earlier today: A year and a half after introducing its MoneyCard, Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) is slashing the price of the reloadable, prepaid Visa debit card to $3 from almost $9, aiming to attract shoppers who may have grown wary of the pitfalls of credit card use. The […]
We’ve all written extensively about Walmart’s several failed attempts to open The Bank of Walmart. So I was intrigued by Shaine Mata’s assertion that Walmart offers “banking” to everyone. Has the Bentonvile Behemoth sidestepped the banking industry? What does Shaine mean? In recent months, I made the switch to the Wal-Mart Money Card. I realized […]
As our economy goes down the toilet — if you think the $700 billion dollar loan from your great-grandchildren to the spendthrifts on Wall Street fixes our problems, you’ve got another think coming — it would be good to remember Brown and Kellogg. From Jeffrey Kaplan: There was, for a time, a visionary alternative. In […]
I’d wager that 99.99 percent of Americans have no idea of the real complexities of our current financial boondoggle (and if you’re really interested, Princeton has an excellent video discussion) but I can’t get past the role China. From The $1.4 Trillion Question: Through the quarter-century in which China has been opening to world trade, […]
Walmart has lusted after an open door to banking for years. Maybe Republican presidential candidate John McCain should suggest that Walmart offer to assume the $700,000,000,000 cost of bailing out its cronies. Nah, that would involved taking responsibility. Jeff Hess: Have Coffee Will Write.
There are many who are saying that this collapse “proves” that the US capitalist model is obsolete, or based upon false ideas. I claim that it is just the reverse. What the US has had since the 1870’s is syndicalism – a partnership between big business and government. In an earlier time people weren’t afraid […]