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- S.553
S.553: Business Checking Freedom Act of 2003
About This Bill
- This bill was introduced in the 108th Congress
- This bill is primarily about law
- Introduced March 6, 2003
- Latest Major Action March 6, 2003
Bill Sponsor
Bill Summary
Business Checking Freedom Act of 2003 - Amends Federal law to authorize interest-bearing transaction accounts for all businesses, permitting up to 24 transfers per month (or any greater number the Federal Reserve Board may determine) to another account of the owner in the same institution.Authorizes the payment of interest by a Federal reserve bank at least quarterly on balances maintained there on behalf of a depository institution.Amends the...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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| March 6, 2003 |
Introduced in the Senate by Charles E. Schumer (D-N.Y.) |