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Measure aims to ban Wal-Mart type of bank

From Reuters

The top Democrat and Republican on the House Financial Services Committee introduced a bill that would ban Wal-Mart Stores Inc. and other commercial companies from owning a type of bank known as an industrial loan company.

The bill was co-sponsored by Reps. Barney Frank (D-Mass.), chairman of the panel, and Paul E. Gillmor (R-Ohio).


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