From the Office of Utah Congressman Jim Matheson

MATHESON NEWS
Second Congressional District

For Further Information
Alyson Heyrend: (801) 455-5593 (cell)
www.house.gov/matheson

March 16, 2007
FOR IMMEDIATE RELEASE

Matheson Statement on Wal-Mart's Decision to Withdraw its ILC Application

Salt Lake City, UT-Congressman Jim Matheson issued the following statement in reaction to the announcement by Wal-Mart that it would withdraw its application for an Industrial Loan Corporation Charter:

"I respect the company's decision. It's unfortunate that a lot of misinformation about Wal-Mart in particular and industrial loan banks in general has been generated.  These financial institutions are sound, they are well-regulated and they serve an important role in ensuring competition and serving customers in the financial services sector.  Less competition in the market means less choice for consumers. As a supporter of the ILC industry and its importance to Utah's economy, I hope that the moratorium will soon be lifted and that applications can again move through the rigorous granting process."

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Alyson Heyrend
Communications Director
240 East Morris Ave. #235
South Salt Lake, UT 84115
(801) 486-1236 (phone)
(801) 455-5593 (cell)
(801) 486-1417 (fax)