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LAYTON, Utah – When it comes to both credit unions and Wal-Mart Stores, the chairman of the American Bankers Association, Harris Simmons, is clearly out of touch with his fellow bankers. That’s the view of John Lund, the chairman of the Utah League of Credit Unions, who charges Simmons has been out of the mainstream with his crusade to destroy CUs and is in the same boat by his apparent acquiescence in letting Wal-Mart win a Utah beachhead through its industrial loan application. Most of the banking industry opposes the Wal-Mart application, said Lund, but Simmons is forecasting its inevitable entry into Utah. Lund made his comments in an interview during the trade group’s annual meeting held at the Davis Conference Center in this Salt Lake suburb. Alluding to banking hypocrisy over large profits this year, Lund, who is executive vice president of America First FCU of Ogden, said self-interest is apparently a guiding force in Simmons’ Wal-Mart view. That’s because “he would have to go against Wal-Mart” and the existing corporate ILCs in Utah which are dues-paying members of the Utah Bankers Association.

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