Christian Berthelsen reports that the California Assembly may not bring the Financial Information Privacy Act up for a vote before the end of the legislative session midnight Saturday. A group called Californians for Privacy Now has been formed to place an initiative on the ballot in the event the legislature fails to act. Craig Newmark of craigslist.org also speaks out on the issue.

Like Mr. Ed, I never speak, unless I have something to say ... and I happen to know a few things about forthcoming financial privacy legislation, so here goes.

Deborah Lohse reports on Wal-Mart's plan to buy Franklin Bank of California. Legislation is pending in California to prevent the purchase.

But opponents fear Wal-Mart wants Franklin as a toehold to build a network of branches offering personal and business loans nationwide -- wiping out small lenders the way some gripe it has underpriced groceries, pharmacies and other small competitors in many local areas. Others fear Wal-Mart could use its future banking clout to deny loans to would-be competitors, coerce consumers to use only its own credit cards, or share private consumer data with its new financial-services arm.