WASHINGTON-At press time, two bills concerning allowing interest to be paid on business checking accounts were facing mark up by the House Subcommittee on Financial Institutions and Consumer Credit. The House Financial Services' Subcommittee was scheduled to consider the Small Business Interest Checking Act (H.R. 974) and the Business Checking Freedom Act (H.R. 1009). H.R. 974 would permit a revised 24-transaction sweep account and authorize the Federal Reserve to pay interest on bank reserve balances. The subcommittee will also discuss H.R. 1009, which would end the ban on interest payments for business accounts.
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the top of any article.
From the March-28, 2001 issue of Credit Union Times Magazine • Subscribe!
Bill on business checking accounts in mark up
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!
Comments
Resource Center
View All »
Winning the War on Cybercrime: The Four Keys to Holistic...
This white paper examines the importance of adapting to changes in fraud attacks without significant...
FFIEC Proposed Guidance on Social Media and How it Affects...
To learn how you and your institution can stay compliant with the new proposed FFIEC...
The Rise of "Mobile Commerce" and How it Affects YOU!
Could plastic cards become a thing of the past? This white paper explains what constitutes...
Key Indicators of High Performing Credit Unions
Get a complimentary demo of our loan portfolio analytics and access to the white paper,...
