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Checkmate: An Account for Everyone

The recent news that Bank of America discontinued its free online checking account has generated significant attention from the media, consumer groups, financial analysts, and other industry providers. At the same time, the bank’s Merrill Lynch unit is reportedly offering select customers $200 to open checking accounts. These two developments are fueling renewed interest in the future role of the checking account – one of the bank’s most basic products that is often the gateway ...

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