Credit-Card Backlash Mounts as Kroger Weighs Expanding Visa Ban

Re:Credit-Card Backlash Mounts as Kroger Weighs Expanding Vi... by MrEldritch on Wednesday August 01, 2018 @02:27AM (#17660154)

I was able to find the law I was thinking of, and it was passed in 1956, so not terribly recent, no.

Apparently it's because the BHCA defines banks as entities marketing both checking accounts and commercial loans, and Discover Bank makes no commercial loans and is thus not, under the terms of that law, technically an actual bank.

(Also, apparently the BHCA restricts banks from operating across state lines, too.)

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Re:Credit-Card Backlash Mounts as Kroger Weighs Expanding Vi... by toomuchtodo on Wednesday August 01, 2018 @09:30AM (#17662292)

So Walmart could offer checking accounts as long as they don’t lend.

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Re:Credit-Card Backlash Mounts as Kroger Weighs Expanding Vi... by MrEldritch on Wednesday August 01, 2018 @09:46AM (#17662416)

Yep. I thought the law was more restrictive than it was.

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