Groups Push for Defeat of Wal-Mart Bank
Wow.
An AP newswire article by David Twiddy, via SFGate.com, reports that:
Community and regional bank officials presented a nearly unified front Tuesday in opposing Wal-Mart Stores Inc.'s application to form its own bank.More here.
Noting the retail giant's history of dominating every business sector it enters, small-town bank executives and statewide banking groups said a Wal-Mart-controlled bank would dry up financial resources in some towns, endanger the country's banking system if it were to fail and give the company an unfair competitive advantage.
posted by Fergie @ 4/25/2006 06:50:00 PM
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