Thursday, April 17, 2003

Utah Law Permits Walmart Bank Ownership Community banks across the country join small Main Street merchants in seeing doom and gloom in the arrival of a Wal Mart in the area. Wal Mart has been attempting to purchase financial institutions, particularly industrial loan companies, with an eye to offering financial and checking services. So far they have been rebuffed, because only four states do not have laws against such purchases: Colorado, Minnesota, Nevada, and Utah. Utah is the home of 23 of the nation's 50 industrial loan companies. [American Banker] Reg / $$ 9:23:24 AM