Interest on business checking The House on April 11 approved legislation introduced by Banking Committee Chairman Jim Leach and Rep. Jack Metcalf, R-Wash., that would let banks pay interest on business checking accounts three years after enactment.To appease bankers who oppose these payments, the implementation date was set two years later than in an earlier proposal, and sweep accounts would be expanded in the interim. The bill would increase withdrawals that corporate customers may make each month from sweep, or money market deposit, accounts to 24 from six.

The House Banking Committee approved the bill March 29.

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