Friday 18 October 2019

Keep Walmart out, say bankers

A GROUP of bankers has urged the US financial regulator to stop American retail giant Walmart providing financial services.

At a meeting with the US Federal Reserve, made public yesterday, the bankers said that Walmart has entered banking "through the back door", through facilities like its prepaid card business.

Walmart, which has just under 11,000 stores, insists its financial-services products are properly regulated.

Irish Independent

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