Capital One Introduces High Interest Business Checking Account
Capital One leaps ahead with an interest-bearing business checking account following the effective repeal of a law that prohibited business checking accounts from earning interest.
Capital One Bank (NYSE: COF) has launched its Clear Interest Business Checking account, a new high interest checking account for business owners.
“The Clear Interest Business Checking account can fundamentally change how business owners manage their company’s money,” said Peter Appello, Executive Vice President of Small Business Banking at Capital One Bank, in a press release. “With Clear Interest Business Checking, business can feel assured that their idle cash is anything but it is now working as hard they do.”
The new offering from Capital One Bank comes after the repeal of Regulation Q, a provision of the Dodd-Frank Financial Reform Act that prevented banks from paying interest on deposits in business checking account. Without t