

Are the 30 Million unbanked Americans an opportunity? - marchustvedt
http://www.cnbc.com/id/45899309

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functionoid
Another example, proving government intervention in private industry is a bad
idea and let markets and consumer demand work out their course.

Not sure when Washington will understand that? seems definitely not under
current administration.

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rsanchez1
It's misleading to say that big retailers are not affiliated with banks. They
can handle check-cashing and prepaid cards, yes, but these stores also offer
credit cards as financing for larger purchases. Even low-income consumers want
a nice TV. When you get down to the fine print for these credit offers,
they're all backed by a bank. The Walmart Credit Card is backed by GE Capital
Retail Bank and the Best Buy Reward Zone Credit Card is backed by HSBC. Target
does its own credit services through Target National Bank, but Target does
offer deposit accounts as opposed to Walmart. Stores like Walmart and Best Buy
may not announce that their financing offers are backed by banks in their
weekly ads, but they are affiliated with mainstream financial institutions.

