NGA OPPOSES WAL-MART BANK

WASHINGTON - The National Grocers Association has joined critics of Wal-Mart Stores' plans to launch a banking operation.saying that loopholes in federal policy could allow the retailer to engage in interstate banking without being subject to the same supervision and restrictions as other banks.Bentonville, Ark.-based Wal-Mart has applied to open a type of bank known as an industrial loan company

WASHINGTON - The National Grocers Association has joined critics of Wal-Mart Stores' plans to launch a banking operation.

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TAGS: Walmart