Straight Talk — Competition’s Coming

      The Wal-Mart threat to traditional banking is stronger now than ever. Although it has been three years since the retail giant dominated industry discussion with its application for an industrial loan company, banking industry events during the last year actually set the stage for big non-banks to make unprecedented inroads into the financial services industry.

      Consider that as the culture continues to deleverage, it is going to become more difficult to make money in the banking business. Regulators are demanding more capital and stronger loan loss . . .

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