When last we checked in on the banking industry's fight with retailers over the Dodd-Frank Act, the banks had lost their battle against caps on debit-card fees. Now U.S. lenders are squaring off against the world's largest retailer, Wal-Mart Stores. The banking industry is arguing that the Consumer Financial Protection Bureau, created by Dodd-Frank, should be able to regulate Wal-Mart, because the retailer qualifies as a so-called larger participant in financial services under the act.
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