Magazine article American Banker

Washington People

Magazine article American Banker

Washington People

Article excerpt

Wal-Mart's Appetite

Rep. Paul Kanjorski urged banks and credit unions last week to stop their long-running "food fight" so they can join together to face a common foe: Wal-Mart Stores Inc.

The Pennsylvania Democrat told representatives of both sides at a House subcommittee hearing on Tuesday that if Wal-Mart enters the banking business, it would "eat you all alive."

"It would eat credit unions alive, it would eat community banks alive, it would eat even the big banks alive," he said.

The Bentonville, Ark.-based retail giant applied in July to charter an industrial bank in Utah, but said it plans to use the bank only for back-office operations.

A Good-Bye at ACB

After 15 years of service, Charlotte Bahin is leaving America's Community Bankers.

The ACB senior vice president for regulatory affairs will begin Nov. 1 as a partner at the newly opened Washington office of Chicago- based Lord Bissell & Brook. She said she will continue to work on regulatory issues as she helps the firm build up its practice in the district.

Looking back on her tenure, Ms. Bahin, who joined the National Council of Savings Institutions in 1990 - one of two groups that later merged to form ACB - said she was struck with the evolution of the thrift industry. When she joined as regulatory counsel, it was still in the throes of the savings and loan crisis. "It is now thriving and has record earnings," she said.

Diane Casey-Landry, ACB's president, called Ms. …

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