Wal‐Mart's nontraditional banking business and corporate social responsibility

In: Social responsibility journal: the official journal of the Social Responsibility Research Network (SRRNet), Band 6, Heft 4, S. 551-561

Abstract

PurposeThe purpose of this paper is to highlight how a multinational corporation can fulfill its corporate social responsibility while seeking profit by using Wal‐Mart's recent nontraditional banking services as an example.Design/methodology/approachA wide gamut of document reviews about migrant workers in the USA and global remittance businesses was used. Remittance cost changes were also tracked among major US remittance operators over the past two years.FindingsWal‐Mart's competitive business platform has lowered remittance costs in the USA since it launched the new remittance business two years ago.Research limitations/implicationsIn spite of anecdotal evidence, this paper suggests how well‐established multinational business operations can be tools for economic justice across the globe.Originality/valueThis is one of the first reports on the impact of the retailer's nonbanking business on remittance cost and potential for promotion of economic justice for Hispanic/Latino migrants.