UPDATE 1-FDIC extends freeze on retailers' banks for 1 year

Newswire

(Updates with FDIC action; adds Bair quote, Dugan, background) By John Poirier WASHINGTON, Jan 31 (Reuters) - The Federal Deposit Insurance Corporation voted on Wednesday to extend for one year a moratorium on bank applications by commercial companies, such as Wal-Mart Stores Inc. and Home Depot Inc. . The action would give Congress more time to debate legislation that would ban retailers and commercial companies from owning a specialty bank known as an industrial loan company (ILC). ...

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