Burried in the bailout bill under consideration has a provision that would accelerate the Relief Act of 2006 effect date of October 1, 2011 which will allow banks to have a Zero Deposit Requirement, should the Federal Reserve Board find it suitable. The bailout bill up for vote would move the effective date to October 1, 2008.
Bailout Bill UNCOVERED: Will Allow Banks to Have Zero Deposit Requirement
October 2, 2008 By
