BENTONVILLE, AR - Wal-Mart says it is dropping its request to operate an in-house bank. The federal government in January imposed a one-year moratorium on applications for industrial bank corporations. Wal-Mart wanted to set up an I-L-C to process credit card and debit card payments. It currently pays someone else to process the transactions and wanted to save money by doing taking over the processing itself. Wal-Mart says ``manufactured controversy'' led it to dump the application. The company says its critics were wrong to believe that Wal-Mart would one day hope to open its own bank branches in its stores. In a statement, the company says that since the process to open an I-L-C will now take years instead of months, it will instead focus on other projects.