From Forbes: Walmart may not be the banking industry’s
biggest problem but it may be a growing one.
Earlier this year the retail giant announced a bigger dive into the
world of banking through the launch of an alternative to traditional debit and
checking accounts. In other words, Walmart wants to be your new banker. Not
surprisingly, banks are taking notice.
At the time Walmart said it launched the so-called Bluebird
accounts in response to consumers who say they are not getting the value they
expect from traditional bank accounts with debit cards because of their
increasingly higher fees. (Think: Bank of America, JPMorgan Chase, Citi and
Wells Fargo’s debit card fee debacle last year.)
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