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The FDIC is currently reviewing Walmart’s application to get into the Banking business.
The want to, “Save money by getting around the costs of Credit Card processes by creating their own.”
They said they don’t want to open a Retail, like a Bank of Walmart. They just want to get around all of the transaction fees credit cards charge with going through banks.
Some people testifying in favor of Walmart is the Salvation Army.
More info (and full story) is at NPR