The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Broken_Clock who wrote (52482)	2/2/2006 10:28:16 PM
From: shades	Read Replies (1) of 110194

DJ Realtors Urge US Fed To Reject Wal-Mart Bank Application WASHINGTON (AP)--The National Association of Realtors is urging new Federal Reserve Chairman Ben Bernanke to weigh in against efforts by Wal-Mart Stores Inc. (WMT) to operate a bank in Utah. "We ask that, early in your term, you actively oppose" Wal-Mart's application now pending before the Federal Deposit Insurance Corp., the association said in a letter to Bernanke released Thursday. Bentonville, Ark.-based Wal-Mart is seeking to operate a special breed of bank called an industrial loan company, or ILC, in Utah. It wants to do this so it can process credit card, debit card and electronic check transactions from its retail locations. Bernanke was sworn in as the new Fed chief on Wednesday. Last week, Alan Greenspan - still chairman of the Fed at that time - urged Congress to close a regulatory loophole that lets companies own the type of banks that Wal-Mart wants to operate. "We hope you share our concern and that of chairman Greenspan about the risks of permitting Wal-Mart to control a bank," the association said in the letter to Bernanke. (END) Dow Jones Newswires February 02, 2006 18:13 ET (23:13 GMT) Copyright (c) 2006 Dow Jones & Company, Inc.- - 06 13 PM EST 02-02-06

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next