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Sunday, December 12, 2010
Interest on business checking accounts
Hidden in the Dodd-Frank Reform Act that passed last summer is a favorable change for small business. Starting next July 1, banks are permitted to offer interest on business checking accounts. The Glass-Steagall Act of 1933 had barred such interest for more than 70 years. So be sure and check with your banker on whether you will need to make changes to your account to qualify for interest.