BENTONVILLE, Ark. -- Caving in to an avalanche of criticism and governmental resistance, Wal-Mart Stores here on Friday withdrew its application for an industrial loan company charter, which would have allowed it to operate a banking entity. A spokeswoman for the retailer described the opposition to its latest attempt to get into banking as “a manufactured controversy.” But in a statement, Sheila Bair, chairman of the Federal Deposit Insurance Corp., said, “Wal-Mart made a wise choice. This ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.