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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (40690)	4/23/2004 6:02:42 PM
From: LindyBill	Read Replies (2) \| Respond to of 793957

It is interesting that the article picks on how Wal Mart is going to hurt the cash checking operations rather than how they are going to help the consumer. Wal-Mart Takes on Fringe Banking? By Brett Conrad The Press Enterprise reports (registration required) that: Although there has been no announcement nor advertising, the megaretailer has begun cashing paychecks of up to $1,000 at many of its California stores for a $3 fee - far below what most corner check-cashing outlets charge. It later continues: Eagles, which is just a couple of blocks from Wal-Mart, charges 2 percent for paychecks up to $1,000 - that's $4 for a $200 check or $20 for a $1,000 check. Check cashing outlets rely on the uneducated or the undisciplined for their revenue. Pretty deplorable. It's high time a big company like Wal-Mart put this industry into its crosshairs. Incredibly, most of the article focuses on how the competition will hurt the check-cashing outlets. A single guarded quote from a consumer group rep suggests that Wal-Mart's move "may" be good for consumers. alwayslowprices.blogspot.com