Wal-Mart's bank might face a new abortion bill.

<P> Never been a commercial organization like Wal-Mart industrial bank for concern, and even cause the U.S. political special financial institutions for this new understanding. .</ P> <P> Monday, a co-sponsored by the U.S. bipartisan bill will probably completely ruin the American way commercial companies, banks, financial institutions and to rebuild the barriers between commercial enterprises and its impact comparable to 1956 .years, "Bank Holding Company Act." .</ P> <P> the new bill by the Ohio Republican Congressman Paul Gillmor and Massachusetts Democrat Barney Frank jointly, under the Act, commercial enterprises will not be allowed to establish new industrial bank (ILC). .The effect of this bill will be retroactive to June 1, 2006. .</ P> <P> addition to limiting the commercial sector to set up industrial banks, the bill also requires the current needs of the industrial banks in the U.S. Federal Deposit Insurance Corporation (FDIC) up, while the FDIC will be granted more rights, which can be as .The Fed's bank supervision, as supervision of industrial banks. .</ P> <P> Financial Services Committee, U.S. Congress (House Financial Services) will hold a hearing Wednesday. .And as early as last month, 98 members of Congress sent a letter to FDIC had jointly concluded in Congress to persuade them to stop before the application for approval of new commercial banks. .</ P> <P> Although the current United States federal law allowed commercial enterprises involved in banking, but the industry is not banking law in the United States was included in the bank category. .According to FDIC data as of 2004, the United States a total of 59 industrial banks, the total assets of 140 billion U.S. dollars. .It seems unfair for the bank because no bank can have a Wal-Mart or General Motors. .</ P> <P> Gillmor and Frank said that this will lead to commercial enterprises and the blurred boundaries between the banking industry, while ILC itself, there are also problems of inadequate supervision. ."Congress and the FDIC must collaborate to develop legislation to maintain the banking sector and the line between commercial enterprises." Gillmor said in a statement on Monday. .</ P> <P> the entire financial sector program for the new look mixed. .American Bankers Association (ABA) and the American Community Bankers Association (ICBA) endorsed the new program. .American Bankers Association President EdwardYingling even that "commercial enterprises that should not have a bank." .</ P> <P> but the American Financial Services Association (ASFA) has said that industry will be able to help commercial enterprises to improve operational efficiency and reduce costs. .</ P> <P> "Eventually, (with Industrial Bank) will mean that consumers can get cheaper prices and more choice." American Financial Services Association Vice President Lynne Strang also said in a statement Monday. .</ P>.