Dodd-Frank provision allows banks to offer interest on corporate accounts

07/25/2011 | Bloomberg Businessweek

Banks can now offer interest on corporate accounts thanks to the Dodd-Frank Act's repeal of legislation passed in 1933. Capital One is the first to offer such an account, and other large banks plan to introduce their own options. Some drawbacks to interest-bearing accounts exist, including taxes, but Brian Boardman of financial-services technology provider Fiserv said he thinks "small and middle-market businesses will benefit eventually."

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