Wal-Mart Plans 50% Rise in Money Centers
Stock quotes in this article:WMT
BENTONVILLE, Ark. (TheStreet) -- Wal-Mart (WMT) plans to increase the number of its stores offering bank-like services by 50% this year, the Wall Street Journal reports.
The retail giant has been trying to obtain a bank charter for several years, but in vain. The expansion would push the number of Wal-Marts with "Money Centers" to 1,500, or a little less than one for every two Wal-Mart stores in the U.S. Wal-Mart plans to open its 1,000th money center Tuesday, the newspaper says. The money centers cater to millions of Wal-Mart's lower-income customers who don't have a bank account or significant relationships with a bank. Follow TheStreet.com on Twitter and become a fan on Facebook.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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