FDIC opens public hearing on Wal-mart's bank application

The FDIC opened a rare public hearing on Monday, April 10th, to help them decide whether to allow Wal-Mart to own a bank despite misgivings by labor unions, consumer groups and other bankers -- and over the objections of another key federal bank regulator, the Federal Reserve Board. Read this April 7th article from the Washinton Post HERE (or use LexisNexis)

Although Wal-Mart has applied to use the bank exclusively to perform back-office transactions, critics argue the retailer would move to offer a full range of customer services through bank branches in its stores. Read a brief article from today's Wall Street Journal HERE