BANKING ON CANADA… PARTIE DEUX…
Could the Bentonvile Behemoth be planning an end run around banking regulations blocking its plans in the United States by getting clearance for owning a bank in Canada? Maybe. the Banking blogger at Bankwatch has this to say:
When I listened to Jane Thompson speak she went out of her way to demonstrate that the Wal-Mart efforts were intended to provide synergy with their business model, that included, the “unbanked consumerâ€, and transactional efficiency to support their own payments. The argument being that this is not a space the banks are active in anyway. Of course the American Banks’ don’t buy that.
So the Canadian effort could be an effort by Wal-Mart to demonstrate to the American regulators that the American Banks’ fears are misplaced, and no need to worry.
This isn’t over yet.
[...] BANKING ON CANADA… PARTIE DEUX… Could the Bentonvile Behemoth be planning an end run around banking regulations blocking its plans in the United States by getting clearance for owning a bank in Canada? Maybe. the Banking blogger at Bankwatch has this to say: Keep reading… [...]
[...] Dang, it looks like Wally World is going for a squeeze play. When it’s native land expresses reservations about granting it a banking license, the Bentonvile behemoth takes advantage of the world’s two longest unprotected borders. [...]