A consumer who wants a checking account must now go to a commercial bank, which cannot pay him interest on the money he keeps in the account. But if congressional reformers get their way, consumers will soon be able to open interest-bearing checking accounts not only at commercial banks, but also at mutual savings banks, savings and loan associations or even credit unions. Further, consumers could turn to an S and L for a car or boat loan, to a mutual savings bank for a credit card, or to a credit union for...
To continue reading:
or
Log-In
