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Wal-Mart and Banking

While it continues to wait for regulatory and legislative action to decide the fate of its application for an Industrial Loan Corporation charter in Utah, both the New York Times and the Wall St. Journal today are reporting on changes that Wal-Mart reportedly has made recently to the leases it has with a number of banks currently operating in its stores. According to Damian Paletta writing for the WSJ, the changes to the lease language appear to give Wal-Mart an "explicit right to offer mortgages, home-equity lines of credit and consumer loans."

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