Capital Briefs: ICBA Seeks to Block Sale of Bank to Wal-Mart

The Independent Community Bankers of America has asked the Office of Thrift Supervision to reject Wal-Mart Stores Inc.'s plan to acquire Federal BankCentre of Broken Arrow, Okla.

In a letter to the agency dated Aug. 13, the ICBA said the deal would violate the regulatory wall between banking and commerce, which "prevents conflicts of interest and undue concentration of resources." -- Katharine Fraser

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