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Taking An Interest

Small-business checking accounts may get their due.

This story appears in the June 1998 issue of Entrepreneur. Subscribe »

Suddenly, there is a surplus of interest in Congress about the lack of interest paid by banks on small businesses' checking accounts.

By the time you read this, the Senate Banking Committee may have already passed S.1405, an omnibus financial services regulatory relief bill. There are two key provisions: One would allow banks to pay interest on small-business checking accounts; another would compensate banks for that new expense by allowing them to receive interest on their reserve funds.

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