U.S. Labor Groups Criticize Wal-Mart's Utah Bank Bid

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010689-us-labor-groups-criticize-wal-marts-utah-/

By Mark Felsenthal, Reuters

U.S. labor groups asked bank regulators to deny retail heavyweight Wal-Mart Stores Inc.’s application to open a financial institution in Utah, as officials on Thursday extended the comment period on the bid.

“There’s been a lot of interest in this application,” Federal Deposit Insurance Corp. spokesman David Barr said.

American Federation of Labor and Congress of Industrial Organizations President John Sweeney, asked the FDIC to reject the Bentonville, Ark.-based company’s bid to open an industrial loan corporation in Salt Lake City. Utah is one of five states where commercial firms may own such companies.

For this complete story, please visit U.S. Labor Groups Criticize Wal-Mart’s Utah Bank Bid.

U.S. Labor Groups Criticize Wal-Mart's Utah Bank Bid

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