TEXT OF STORY
A not-so-clever disguise brings us this week’s Marketplace Money buzzword: Moneycard.
Moneycard is a new venture from retail giant Wal-Mart. It’s a pre-paid debit card that looks and acts just like regular debit cards. Cardholders can electronically deposit paychecks, make purchases, and withdraw cash using any ATM.
Does that mean Wal-Mart’s becoming Wal-Bank? Well, last year, Wal-Mart tried to obtain a banking license, and the Fed turned them down. But financial products like the Moneycard don’t require a banking license.
Can I get a price check on loopholes?
2 hours ago6:31
8 hours ago7:34
19 hours ago25:22
a day ago30:57
6 days ago28:44
4 months ago24:33