Post from CNY Circus

Well, it won’t actually be a bank. Because federal regulators, persuaded by small bankers that Wal-Mart could put them out of business, won’t grant Wal-Mart a bank charter. So the world’s largest retailer has found a workaround: Assemble a package of financial services through deals with third-party partners, and make Wal-Mart a bank in almost every sense but the legal one. Over the next year, t ...