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    Wal-Mart drops plan to open Bank


    Wal-Mart Stores Inc. has dropped the plans to open its own bank, putting an end to a two-year controversy that roiled financial-services companies that feared direct competition from the world’s largest retailer.

    Walmart expects flat sale growth
    Just like Walmart, department giant Macy's is also planning to shut 40 stores in early 2016

    Wal-Mart notified the Federal Deposit Insurance Corp. that it was withdrawing an application to open a so- called industrial bank in Utah. This unit would have helped to process credit-card and debit- card transactions internally.