Walmart Bank

Here's what I don't understand, unions and banks and retailers have banded together to fight Walmart's request to form an in-house bank. For starters they feel they can save themselves $30 million a year in debit and credit fees if they own their own bank. That's a good thing and would promote more competitveness.

There is wide-spread fear that Walmart would then open a series of bank branches. Oh no! Then we would have even more competition in the banking business right?