In its never ending quest to develop new revenue streams, Wal-Mart is reaching out to millions of customers who have turned their backs on – or who have been squeezed out by – traditional banking.  Industry trades are taking note: American Banker recently named former Wal-Mart executive Jane Thompson as its Innovator of the Year for 2011.   Read more...

What do Jakarta, Berlin and the State of North Dakota have in common?  They each operate a bank that is devoted exclusively to supporting their municipalities and providing loans to local borrowers.  Now San Francisco is exploring the idea. 

Recently, protesters gathered in front of the Federal Reserve Bank of California in San Francisco and cheered when a city supervisor called for the formation of a municipal bank.  It was quite a change from demonstrations of yesteryear to see a gray-haired elected official in a suit and tie elicit wild enthusiasm about a bank from sign-carrying demonstrators.  The Occupy movement aside, could the establishment of a municipal bank in San Francisco come to fruition?   Read more...

Leading banks are in a very public decision-making process right now about debit card fees.  Last month one of nation’s largest said, “Yes, definitely.”  But after a public outcry and flurry of customers closing accounts that bank’s revised position on November 1 became, “well, not really, but maybe, sometimes, then finally ‘No’.” 

Others have chosen to use this moment in the public eye to stake their claim firmly in “no debit card fee” territory.  As the debate rolls on customers are watching carefully to see whether they will be asked to pay for the convenience of using a debit card.  Read more...