ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release May 25, 2005 #05-30
E-mail: [email protected]

ACB STATEMENT ON PASSAGE OF BUSINESS CHECKING BILL

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Statement by Diane Casey-Landry, president and CEO, America’s Community Bankers, on House passage Tuesday of a bill to allow banks to pay interest on business checking accounts:

America’s Community Bankers applauds members of the House for again overwhelmingly adopting legislation that would give community banks an additional tool to serve small business customers by allowing banks the option of paying interest on business checking accounts.

The current prohibition on paying interest on business NOW accounts limits the ability of community banks to offer competitive products to serve the financial needs of their business customers. Once enacted into law, community banks will have new competitive options, and small businesses will benefit from better services that strengthen their financial condition and add to local economic growth and job creation.

ACB will continue to work closely with the Senate to enact this legislation into law.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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