Can You Bank on Wal-Mart? [Fool.com: Commentary] April 11, 2006

Can You Bank on Wal-Mart? [Fool.com: Commentary] April 11, 2006:

Wal-Mart says it wants a banking license so that it can keep all fees that it pays other banks to process its customers' credit and debit card payments "in-house." That's true, as far as it goes, and there's plenty of money to be saved there. But when the retail behemoth goes on to say "and that's all we plan to do," the statement rings as hollow as Hillary Clinton hemming and hawing over whether she will run for president. The key, you see, is for Wal-Mart to get the banking license now. Once it has it, the company will be free to change the "plan" and go into the retail banking business full-scale.

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