National Survey: Bankers Concerned about Wal-Mart Entering Banking Arena.CHICAGO -- Almost three-quarters (70%) of bankers say that the entry of Wal-Mart into the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. business would be a threat to their banks' business, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Grant Thornton LLP's 14th Annual Survey of Bank Executives. Wal-Mart, which applied for federal deposit insurance for a Utah-licensed industrial loan company last year, is already perceived by many bankers as a competitor. Last year alone, Wal-Mart launched its own store-branded Discover[R] card and began to offer discounted money-transfer services in partnership with MoneyGram[R]. Out of those banks surveyed, 76% of banks with less than $500 million in assets, 81% of rural banks and 73% of private banks agree that Wal-Mart's entry into the banking industry would be a threat to their banks' business. "When it comes to competition, the majority of bankers see Wal-Mart as a menace MENACE. A threat; a declaration of an intention to cause evil to happen to another. 2. When menaces to do an injury to another have been made, the party making them may, in general, be held to bail to keep the peace; and, when followed by any inconvenience or ," says John Ziegelbauer, Grant Thornton's national managing partner of the financial institutions practice. About the survey Grant Thornton's Annual Survey of Bank Executives is the oldest continuous independent study of its kind in the banking industry. In October 2006, Grant Thornton mailed questionnaires to a national sample of 4,709 chief executive officers and senior officers of banks and savings institutions with assets in excess of $100 million. A total of 355 completed questionnaires were returned for a response rate of 7.9 percent, yielding a margin of error of O 5.2 percent. More than two-thirds (67%) of the respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. report assets of less than $500 million, with 33 percent reporting assets greater than $500 million. The executives defined the community they primarily serve as suburban (40%), rural (33%) and/or urban (25%). Almost one-third (29%) are publicly held, 53 percent are private corporations, and 16 percent have mutual charters. About Grant Thornton Grant Thornton LLP  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . is the U.S. member firm of Grant Thornton International, one of the leading global accounting, tax and business advisory organizations. Through member firms in more than 110 countries, including 49 offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the partners and employees of Grant Thornton member firms provide personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. attention and the highest quality service to public and private clients around the globe. Visit Grant Thornton LLP at www.GrantThornton.com. |
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