Interest On Business Checking Accounts Coming Soon?

Under current laws, small businesses are not allowed to earn interest on checking accounts…which I find to be the most asinine thing ever. But Nydia Velazquez, Chairwoman of the House Small Business Committee, is introducing a bill known as “The Business Checking Fairness Act” which will turn that all around and give a little more freedom to small businesses to compete with the big guys. It’s not that the big stores get interest on their checking either, but that they can afford to be creative with their accounting, whereas smaller companies cannot.

I know this bill or some version of it has been introduced before, but I really hope it passes this time.

Posted under government |

Share with others:  StumbleUpon |   Reddit  |   Digg |  PFBuzz |  Del.icio.us 

Like this article? Please consider subscribing to my full feed RSS. Or, if you would prefer, you can subscribe by Email and have new posts sent directly to your inbox by entering your email address in the box below. Your email will only be used to deliver a daily email and you can unsubscribe at any time.

You might also like:

Combining Finances When Getting Married.

Washington Mutual Fails; Getting Sold Off To J.P. Morgan.

Guest Post - Which Debt Reduction Method Should I Use? - NCN

Love & Marriage - On Combining Our Finances.

Guest Post - 10 Ways To Make Saving Money Painless.

Safe Places To Put Your Cash In This Economy.