Life line checking is an account designed specifically for low-income consumers who previously had no banking relationship. Generally, a life line account has no minimum balance requirement and no, or a very low, monthly fee. In other words – free checking.
With all the chatter in the media about the four big mega-banks dropping free checking, it got me to wondering about the life line checking account laws passed in seven states in the early-to-mid-1980s.
Read more: ACTON Marketing