WASHINGTON - (03/13/06) A group of 32 Democrats in theHouse called on the FDIC Friday to reject the controversialapplication from retail giant Wal-Mart Stores for an industrialbank charter. The group, which would normally hold little swaybecause both the House and Senate are controlled by Republicans,may have more influence with the FDIC because its new chairman isMartin Gruenberg, former top Democratic staffer at the SenateBanking Committee. The group said it is worried that Wal-Mart willadopt predatory pricing, as it is charged with doing in retailing,to threaten community banks and credit unions. This not onlythreatens community banks and credit unions but national bankinginstitutions as well, they said.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3