Consumer Checking Account Equity Act

[AI summary unavailable — showing source text] Consumer Checking Account Equity Act - Amends the Federal Reserve Act and the Federal Deposit Insurance Act to eliminate the prohibition on the payment of interest on demand deposits. Amends the Home Owners' Loan Act and the Federal Credit Union Act to allow federally chartered savings and loan associations and credit unions to offer demand deposits. Amends the Federal Home Loan Bank Act to require any institution which has subscribed to the stock of a Federal Home Loan Bank to maintain reserves against its demand accounts or deposits in amounts as may be prescribed by the Federal Home Loan Bank Board.…