US House Lawmakers Introduce Bill To Ease Rules On Banks
Thursday June 19th, 2008 / 23h56
By Michael R. Crittenden Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Banks and other firms would be able to pay interest on business checking accounts, among other regulatory changes, according to legislation introduced Thursday by a bipartisan trio of House lawmakers. The legislation would ease various regulations on banks, savings and loans, and credit unions, including giving greater lending flexibility to thrift institutions. "During this time of economic uncertainty we need to take action in Washington not only to help those individuals who live and work in underserved areas, but also the businesses that create jobs," Rep. Paul Kanjorski, D-Penn., said in a statement. House Financial Services Chairman Barney Frank, D-Mass., said in the statement that he looks forward to the House passing the legislation "very soon." Kanjorski is a co-sponsor of the legislation, along with Rep. Ed Royce, R-Calif., and Rep. Dennis Moore, D-Kan. -By Michael R. Crittenden, Dow Jones Newswires; 202-862-9273; michael.crittenden@dowjones.com
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