Addressing the Challenges of Checking Accounts in Credit Unions: A Response to the U.S. Court of Appeals' Decision, 1979-04-20

Item

Identifier: CAC_CC_109_4_22_23_0003

Staff Only

Addressing the Challenges of Checking Accounts in Credit Unions: A Response to the U.S. Court of Appeals' Decision, 1979-04-20

The text discusses a recent court ruling that deemed certain financial transactions illegal, including bank's automatic transfer payments, savings and loan's remote service systems, and credit union's share draft systems. In response, a bill (H.R. 3864) was introduced to end the prohibition against interest on demand checking accounts and give savings and loan associations and credit unions the ability to offer checking accounts. The bill is currently being discussed in Congress, and the author of the text will monitor the situation and consider the opinions of holders of checking accounts in credit unions.

Dates

1979-04-20

Language of Materials

English

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