Business Checking Freedom Act of 2005
Sponsor: SUE KELLY (R-NY)
Business Checking Freedom Act of 2005 - (Sec. 2) Authorizes interest-bearing transaction accounts for all businesses, permitting up to 24 transfers per month (or any greater number the Federal Reserve Board may determine) to another account of the owner in the same institution. Conditions payment of interest on the Business Now Accounts of corporations, business partnerships, or other business entities upon a determination by the appropriate State bank supervisor that an industrial loan company or industrial bank is not a nonqualified industrial loan company, that is, a company controlled directly or indirectly by a commercial firm.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 2.3% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 424 | 97.4% |
| Nay | Lost | 1 | 0.3% |
| Not represented on this question | No position taken | 0 | 2.3% |