News Watch

FDIC STALLS WAL-MART BID FOR BANKING ENTITY WASHINGTON Dealing a blow to the hopes of Wal-Mart Stores, Bentonville, Ark., to operate a bank, the Federal Deposit Insurance Corp. voted here last week to extend its moratorium for a year on applications for deposit insurance and change-in-control notices for industrial loan companies that will be owned by commercial companies. This will allow Congress

FDIC STALLS WAL-MART BID FOR BANKING ENTITY

WASHINGTON — Dealing a blow to the hopes of Wal-Mart Stores, Bentonville, Ark., to operate a bank, the Federal Deposit Insurance Corp. voted here last week to extend its moratorium for a year on applications for deposit insurance and change-in-control notices for industrial loan companies that will be owned by commercial companies. This will allow Congress to consider legislation regulating ILCs. The moratorium does not apply to ILCs ow

Register to view the full article

TAGS: Kroger Walmart