Home Depot ditches bank plans
ATLANTA The Home Depot has withdrawn its application to purchase EnerBank USA, a home improvement loan provider based in Utah, according to reports.
Reports indicate that Home Depot decided to withdraw its application for the bank because it did not fit with its plan to focus on retail. The company announced its intention to buy EnerBank in May 2006.
The company reportedly wanted to buy the bank in order to grow business with contractors by easing the financial burden of home improvement costs.
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