WASHINGTON-The Independent Community Bankers of America (ICBA) quickly denounced the news that TD Bank Financial Group and Wal-Mart will work together to provide financial services inside the Wal-Mart stores. ICBA President and CEO Ken Guenther stated that the agreement "flies in the face of congressional determination that banking and commerce should remain separate." In 1999, with the passage of the Gramm-Leach-Bliley Act (GLBA), Congress crushed Wal-Mart's efforts to buy a thrift and enter the banking business. "In passing GLBA, Congress couldn't have been clearer that Wal-Mart has no business in the banking business. Regulators should reject the TD Bank/Wal-Mart application," Guenther said.