Community Banks Favor Ability to Pay Interest on Checking Accounts, According to National Survey by Grant Thornton LLP.Business Editors/Banking Writers WASHINGTON, D.C.--(BUSINESS WIRE)--March 28, 2000 By a margin of more than 2-to-l, community banks say that being able to pay interest on checking accounts is important to their bank, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey of more than 600 community banks by Grant Thornton LLP  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . , a major accounting and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm. Half (50 percent) of 638 community banks responding to a national survey that Grant Thornton conducted late last year agree that allowing banks to pay interest on checking would be an important legislative issue to their bank. In contrast, only 20 percent say that this new power would not be important. Another 30 percent are neutral on the issue. Support for allowing community banks to pay interest on checking accounts is more widespread among banks serving urban (60 percent) and suburban (53 percent) markets. It is less widespread among banks serving rural communities (44 percent). Support for this new power, which the House Banking Committee will debate this week as it marks up H.R. 4067, is also more widespread among community banks in the West (63 percent) and Northeast (57 percent); it is less widespread in the Midwest (43 percent) and South (48 percent). About This Study To identify community banks' views, Grant Thornton mailed questionnaires in November 1999 to chief executives of 5,643 community banks and received 638 completed surveys, for a response rate of 11 percent. The sampling margin of error with samples of this size is plus or minus 3 percent. With executive offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Chicago, Grant Thornton is a 75-year-old global accounting and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a that works with middle-market, entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. companies to help them create, enhance, and preserve wealth. It is the U.S. member firm of Grant Thornton International, a worldwide professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. organization with $1.6 billion in revenues and 600 offices in 100 countries. Grant Thornton's address on the World Wide Web is www.grantthornton.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion