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Williams Mullen: FDIC Issues Final Rule Permitting Interest on Demand Deposits of State Non-Member Banks per Dodd-Frank

by Edmund D. Harllee Section 627 of the Dodd-Frank Wall Street Reform and Consumer Protection Act repeals the prohibition against the payment of interest on demand deposits, effective July 21, 2011. On Thursday, July 14, 2011, the Federal Deposit Insurance Corporation (the "FDIC") issued...