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

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.