Image via WikipediaIn an article published today in the Financial Times, they report that Walmart is "Extending it's Banking Interests"
Walmart has taken an equity stake in a rapidly expanding US financial company, in a move that may also give the largest US retailer an indirect link to a small commercial bank. Green Dot, which provides support for Walmart’s pre-paid cards, said this month that it had issued more than 2m shares to Walmart, following an agreement in May that extended the existing alliance between the companies until 2015. Green Dot is also seeking federal and state approval to acquire its own bank, having reached agreement in February to acquire Bonneville Bank, a small Utah-based commercial bank, for $15.7 mi... <<read more>>
Walmart has taken an equity stake in a rapidly expanding US financial company, in a move that may also give the largest US retailer an indirect link to a small commercial bank. Green Dot, which provides support for Walmart’s pre-paid cards, said this month that it had issued more than 2m shares to Walmart, following an agreement in May that extended the existing alliance between the companies until 2015. Green Dot is also seeking federal and state approval to acquire its own bank, having reached agreement in February to acquire Bonneville Bank, a small Utah-based commercial bank, for $15.7 mi... <<read more>>
Related:
(Reuters) - Wal-Mart Stores Inc WMT.N) has taken a minor stake in the prepaid debit card seller Green Dot Corp in a move that would give the U.S. retail giant indirect access to the U.S. financial space
. <<read more>>
(Reuters) - Wal-Mart Stores Inc WMT.N) has taken a minor stake in the prepaid debit card seller Green Dot Corp in a move that would give the U.S. retail giant indirect access to the U.S. financial space
. <<read more>>
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Go to S.E.C. Filing from Green Dot »
