Wal-Mart says it has No Plans to Open Bank Branches

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00019072-wal-mart-says-it-has-no-plans-to-open-ban/

At a public hearing earlier this morning, Wal-Mart Financial Services president, Jane Thompson, told the Federal Deposit Insurance Corp (FDIC) that the retail giant has “absolutely no plans to open bank branches,” according to a story by Reuters.

“Our commitment not to branch and our independent in-store branch strategy is not simply a promise; it is a very visible and rapidly growing reality, locked in by hundreds of long-term contracts,” Thompson added.

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