Haters gonna hate...
Reader comment on: Banks Versus Walmart
Submitted by Brock in HK (United States), Jul 11, 2014 03:39
Regulators gonna regulate. And Walmart is one of their favorite targets, I'm sure.
The rules are appropriately applied and fair, it's that the institutions and business models are different, facts which the banker ignores. Deposit taking institutions have to follow the rules on where they lend the deposits they take. Walmart isn't taking deposits, just cashing checks. If the bank doesn't want to follow rules on lending (which by his comments the banker believes to be burdensome and un-economic, no surprise), the bank could simply stop taking deposits - problem solved!
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