How State Banks Bring the Money Home

Date: 15 Sep 2011 | posted in: Banking | 1 Facebooktwitterredditmail

One of the most significant consequences of the consolidation of banking over the last decade is how much it has hindered the economy’s ability to create jobs. There’s no single solution to this problem, but one of the most promising strategies involves creating state-owned banks that can bolster the lending capacity of local banks, helping them grow and multiply.… Read More

Wal-Mart’s Bid to Buy Bank Blocked

Date: 1 Nov 2002 | posted in: Retail | 1 Facebooktwitterredditmail

A coalition of consumer groups, unions, independent banks, credit unions, and realtors managed a legislative feat in California last month when they pushed through an 11th hour bill to block Wal-Mart’s attempt to acquire a small bank. Wal-Mart filed an application with state regulators in April to buy Franklin Bank of California, an industrial bank with $2.5 million in assets and three employees in Orange County. The new law prohibits non-financial firms from buying state-chartered banks. … Read More

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