Free checking has quickly become a thing of the past as banks deal with new rules on deposit and transaction fees.
FORBES: New Financial Regs Will Force Low-Income Americans Out Of Traditional Banks
The FDIC will also expand deposit insurance for non-interest-bearing transaction accounts used by many small businesses.
FORBES: The Ownership Society
The agency characterized the transaction as being done on an "open bank basis, " with no risk to the deposit insurance fund.
FORBES: The Big Banks
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