wal-mart jumps into the money transfer biz, loudly

[hunter]

6. This is something a U.S. Post Office Bank could do.

Commercial banking services for lower income people tend to be predatory, with very high rates and fees.

Wal-Mart will pursue it's regular strategy of entering the market with lower prices than its competitors, and then raise their prices when their competitors go out of business or leave town.

A Post Office Bank could put an end to all this predation, offering low cost and free direct deposit accounts, debit cards, and money transfers. This would make the "low income" money business much less attractive to the sharks.