Sunday, November 17, 2013

Personal Check Into Business Account

The Federal Reserve, regulator of banks, has determined that in the future a check wrote to a person may not be deposited into a business account.  This is not about placing a hold on the funds - banks will not be allowed to deposit the check into a business account.

Ron Paul often spoke of the Fed in terms of money creation.  Another aspect of the Fed is regulation.  The regulatory squeeze will make it easier for the government to track who is being paid ... eventually for tighter taxation policies.