I would say this is a good thing...choice outside of the big five is good. Folks may not like WalMart as an institution - but if you look at ease of access, interest rates, service fees, targeted demographic then this could be a very good thing for some folks.

News release didn't say, but wonder if they are schedule I or II or III for Canada?

I just saw this news where Wal-Mart is going to create a bank in Canada. I just got the approval from the Canadian government.

well, I guess they have the cash flow, and they make more money than the Canadian banks. I'm just not sure if I am going to do business with the bank of Wal-Mart

lol... Canadian Bank of WalMart - CBOW

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201006031512dowjonesdjonline000686&title=wal-mart-canada-receives-final-approval-to-start-bank