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Interest-Bearing Business Checking Accounts Will Soon Be Allowed

Thursday, July 7, 2011 - 5:30 AM
From the Nashville Business Journal:
A change in federal rules has opened up a new competitive front for banks vying for your business.

As part of the sweeping financial reform the U.S. Congress passed in 2010, banks will, as of July 21, be able to offer business checking accounts that pay interest

There have been a few exceptions for interest-bearing checking accounts such as for businesses that are sole proprietorships or non-profits. For all others, regulation has prohibited institutions from paying interest. I reviewed this upcoming change in this blog post.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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