H.R.41 - Business Checking Fairness Act of 2007

To repeal the prohibition on the payment of interest on demand deposits, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To repeal the prohibition on the payment of interest on demand deposits, and for other purposes. as introduced.
  • Short: Business Checking Fairness Act of 2007 as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 2
  • All-Time: 4,417
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/04/07
 
 
 
 
 
 
 

Official Summary

Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution. Amends the Federal Reserve Act, the Home Ow

Official Summary

Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution. Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits. Amends the Federal Reserve Act to require the Board to survey biennially and report biennially to Congress on bank fees and certain services. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, to repeal certain reporting requirements. Cites practices which shall not be treated as payment or receipt of interest if they relate to an escrow account maintained at a depository institution in connection with a real estate transaction.

...Read the Rest




Vote on This Bill

100% Users Support Bill

1 in favor / 0 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC