Friday, March 16, 2007

Wal-Mart pulls bank application |

Well that did not last very long!

Wal-Mart pulls bank application |
"Wal-Mart Stores (WMT.N: Quote, Profile , Research) said on Friday it has withdrawn its request to open a specialty bank after immense opposition from politicians, consumer groups and community banks hampered its application with U.S. bank regulators.

'Since the approval process is now likely to take years rather than months, we decided to withdraw our application to better focus on other ways to serve customers,' said Wal-Mart Financial Services President Jane Thompson in a statement."

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