U.S. Realtors to Oppose Wal-Mart Bank Application

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

Written by: Unknown Author –

http://www.insidearm.com/news/00001315-us-realtors-to-oppose-wal-mart-bank-appli/

By Kristin Roberts, Reuters

The National Association of Realtors, representing 1.2 million members, on Friday said it would oppose Wal-Mart Stores’s application to open an industrial bank, adding its name to a growing list of groups opposing the bid.

The Realtors said allowing the world’s biggest retailer to start even limited banking activities would set a precedent that inevitably erodes the historic separation of banking and commerce in the United States.

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