No-Cost Checking for Poor and Elderly Killed in California Senate Committee
Hooper, Molly, American Banker
SAN FRANCISCO -- A bill requiring banks and thrifts to provide "baseline" checking accounts at virtually no cost to consumers has died quietly in the California Senate.
The proposal, introduced by Sen. Nicholas Petris, a Democrat, on behalf of a variety of consumer groups, was heard Wednesday before the Senate banking and commerce committee but failed to win even a motion putting it up for a vote. The bill was introduced in reaction to the concern that basic banking services are being priced out of reach of the poor and elderly, forcing them to operate on a cash-only basis and endangering their safety.
The bill was strongly opposed by the California Bankers …
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Publication information:
Article title: No-Cost Checking for Poor and Elderly Killed in California Senate Committee.
Contributors: Hooper, Molly - Author.
Magazine title: American Banker.
Volume: 150.
Publication date: May 29, 1985.
Page number: 3+.
© 2009 SourceMedia, Inc.
COPYRIGHT 1985 Gale Group.
This material is protected by copyright and, with the exception of fair use, may not be further copied, distributed or transmitted in any form or by any means.
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