FDIC, facing Wal-Mart pressure, halts new banking applications

The Federal Deposit Insurance Corp. said it won't accept any new applications for industrial banks until Jan. 31, 2007, putting Wal-Mart Stores' plans to obtain a banking charter on hold. Members of Congress and the banking industry have put pressure on the FDIC to keep the giant retailer out of the banking business.

View Full Article in:

Washington Times, The · Wall Street Journal (tiered subscription model), The

Published in Brief: