Free Republic

Feb 8, 2006 — By Kristin Roberts WASHINGTON (Reuters) - New York Democrat Sen. Hillary Clinton has entered the debate over Wal-Mart's controversial bank application, telling regulators she has "serious reservations" about allowing companies to enter financial services by exploiting a "loophole" in U.S. law. According to a February 3 letter obtained by Reuters on Wednesday, Clinton, a former Wal-Mart board member, told the Federal Deposit Insurance Corp. the retailer's bid to open an industrial loan company (ILC), if successful, could have a significant impact on the financial sector. "After hearing from very concerned constituents about Wal-Mart's application for federal...

ANNAPOLIS, Md. (AP) -- A national retail industry trade association filed suit Tuesday challenging a Maryland law designed to pressure Wal-Mart Stores Inc. to spend more money on health care for its employees. The law, the first of its kind in the nation, was enacted Jan. 12 when the Democratic-controlled legislature overrode Republican Gov. Robert Ehrlich's veto. The law requires companies with more than 10,000 employees in Maryland to spend at least 8 percent of payroll on health care or contribute the difference to the state Medicaid fund. State officials said Wal-Mart is the only company of that size that...