Sponge Homer

Homer H. Hillis, Jr. sponges all kinds of information, business, political and trends. I've been seen on the Sally Jesse Rafeal show with noted trend spotter Faith Popcorn. My Blog will give you an over view of what I'm seeing and reflections on the same.

Thursday, January 26, 2006

First National Bank of Wal-Mart!

The Wall Street Journal reported this today

"Wal-Mart officials say the Utah bank would be a back-office processing center, handling debit-card, credit-card and electronic check-transfer payments by customers at its stores. A third party currently processes the transactions -- estimated at 140 million a month -- and bringing the work in-house would save Wal-Mart money. Company officials repeatedly have said they don't plan to establish bank branches. Under current law, these state-chartered banks, many incorporated in Utah, may open branches in more than 20 states and the District of Columbia."


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