Wal-Mart's banking application rallies retailer's enemies

10/23/2006 | Wall Street Journal, The

Wal-Mart's application for a banking license -- which seemed like a sure bet when the retailer filed the required application 15 months ago -- now seems likely to fail. The retailer's ambitions have been slowed by a coalition of "large banks, small banks, the Federal Reserve, unions, grocers, real-estate agents and congressmen of both parties," The Wall Street Journal writes.

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Wall Street Journal, The

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