The rent-seekers otherwise known as those running the country's banks ganged up last year to...

|By:, SA News Editor

The rent-seekers otherwise known as those running the country's banks ganged up last year to urge the Fed not to allow Wal-Mart (WMT) to offer financial services, according to minutes of the Federal Advisory Council just obtained under the Freedom of Information Act. The banks successfully got Wal-Mart to drop a 2005 bid for a Utah-based bank and now they're up in arms about the company's entry into the prepaid card business.