Wal-Mart's March into Financial Services Unsettling to Some

by Mark Friedman  on Monday, May. 12, 2014 12:00 am  

Wal-Mart’s latest expansion into the financial services sector includes offering customers money transfers and the ability to shop for auto insurance.

When Wal-Mart Stores Inc. abandoned its plans to own a bank operation in 2007, it didn't shelve the idea of offering financial services. Last month, the Bentonville retailer unveiled its latest entry into the financial services arena by offering customers a cheaper way to transfer money to any of its 4,200 Wal-Mart stores in the United States.

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