Free Checking No More: Thanks, Dodd-Frank!

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October 3, 2012     |    Discover more at Heritage's Enterprise and Free Markets webpage

Free Checking No More: Thanks, Dodd-Frank!  Free checking accounts, once considered common, are becoming increasingly rare as the enormous costs of new regulations hit banks' bottom lines. According to the just released 2012 Checking Survey by Bankrate, Inc., a publisher of financial information, only 39 percent of banks continue to offer free checking accounts, a sharp decline from the 76 percent of banks that offered free checking in 2009--before enactment of the massive Dodd-Frank financial regulation statute. CONTINUE READING >>

Another Day, Another Default: Postal Service to Miss $5.6 Billion Payment    In August, the U.S. Postal Service (USPS) failed to pay $5.5 billion due to the Treasury Department to fund health benefits for its retirees. Now, the USPS will miss a second payment to the Treasury, this time for $5.6 billion. This second default is no surprise; the USPS just doesn't have the money to pay and hasn't for some time. But the reality that the USPS is now a serial defaulter should not be lost on policymakers. READ MORE ABOUT THE IMPLICATIONS >>

What Does the Obama Administration Have Against Cheap Vegetables? The Obama Administration's Commerce Department recently took a preliminary position in favor of ending a 16-year-old trade agreement governing tomatoes imported from Mexico. The Florida Tomato Exchange asked the Administration to end the agreement because it doesn't want to compete with low-priced tomatoes grown in Mexico. This announcement took Mexico by surprise, and both advocates and opponents of the agreement are up in arms.  FIND OUT HERE >>

More From Heritage What Bernanke's Policy Says about Obama's Economy We Need Jobs; Imports Help Dropping the Ball on Unions

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