Update on the Bank of Wal-Mart
From Reuters:
A bipartisan group of lawmakers on the U.S. House Financial Services Committee on Friday asked the Federal Deposit Insurance Corp. to delay action on Wal-Mart's application to open a bank until the regulatory agency's board vacancy is filled."This application is clearly of sufficient importance to require that it be made by the members of the FDIC Board itself and only by a full Board without vacancies," wrote the group, which included Massachusetts Rep. Barney Frank, the panel's top Democrat, and Ohio Republican Rep. Paul Gillmor.
The 25 members also urged the FDIC to hold public hearings on Wal-Mart Stores Inc.'s application, due to the significant public interest it has generated. Wal-Mart's application drew more than 1,000 comments, more than any other application subject to public commentary.
To send a letter to the Governor of Utah, asking him to deny Wal-Mart's bid, click here.
Posted by Brendan - December 16, 2005 12:49 PM - In The News