April 11, 2000
The Administration supports H.R. 4067, which repeals prohibitions on banks'
payment of interest on business checking accounts. The bill would
eliminate unnecessary restrictions on the ability of banks to serve their
commercial customers and would level the playing field between banks and
other financial services providers that can compensate businesses for
deposits without similar legal restrictions. This legislation will
especially benefit America's small businesses. The Administration also is
pleased that unrelated measures have not been attached to this bill.