The Missouri legislature recently approved SB 892, sponsored by Senator Delbert Scott, which is designed to stop Wal-Mart from opening banks in the state.
Wal-Mart has applied to run an industrial bank in Utah, a type of bank this is not regulated by the Federal Reserve.
The bill – passed by unanimous votes in both the House and Senate – bars industrial bank companies from having any branches in Missouri.
Interesting news, and I thought I would see what folks have to say about this.
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Center for Rural Affairs
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