Growing Opposition To A Wal-Mart Bank
Gary McWilliams reports in this morning's Wall St. Journal about growing opposition in several states to Wal-Mart obtaining a bank license, even though the retailer has repeatedly said it has no interest in operating a consumer bank. The FDIC is meeting on January 31st to consider Wal-Mart's application - along with nine other ILC applications. Last year, the FDIC imposed a six-month moratorium on ILC application approvals and that period is now coming to an end later this month.
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