Wal-Mart To Expand Financial-Service Centers
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Wal-Mart Stores Inc., the world’s largest retailer, plans to expand its financial-service centers more than fourfold to 1,000 stores by 2009 after abandoning an attempt to start a bank. The MoneyCenters are the most profitable departments in stores, the president of the Wal-Mart Financial Services, Jane Thompson, said in an interview yesterday in New York. The expansion comes a month after the U.S. House of Representatives passed legislation to block non-financial firms, including retailers, from operating banks.
