Does Wal-Mart's Executive Search Hint at Expanded Banking Plans?
Deseret News (Salt Lake City) › May 15, 2006
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Summary
WASHINGTON -- Wal-Mart Stores Inc. confirmed Thursday it is seeking a senior manager to oversee "new strategic initiatives" in the mortgage business but said the move does not signal an expansion into retail banking.
Some bankers, lawmakers and Wall Street analysts disagreed, saying they believe the executive search shows the retail giant is planning to move into full-service banking, despite promises to the contrary to federal regulators.See the full content of this document
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Does Wal-Mart's Executive Search Hint at Expanded Banking Plans?
"This is the smoking gun. What more do you need?" asked Camden Fine, chief executive of the Independent Community Bankers of America. The trade group for small bankers is fighting Wal-Mart's application to the Federal Deposit Insu...
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