The current landscape of business deposits may change when a Federal Reserve Act section is repealed in July.
That repeal of Section 19(i) of the Federal Reserve Act is set to come July 21 as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 627.
The change, which will allow business customers to earn interest on their checking accounts, is projected to trigger a two-dimensional shift in business accounts, according to research firm Market Rates Insight in San Francisco.
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