BASIC CHECKING-REQ BANK SERV

Amends the Consumer Deposit Account Act. Requires financial institutions with assets of more than $100,000,000 to extend basic checking services to under-served and low-income residents for direct deposit with the institution by third parties with no service charges, minimum balance, or minimum deposit requirements. Allows institutions to charge for stop payment orders and to deny no cost services to persons who have had a checking account closed, within 3 years, by an institution for insufficient funds. Effective immediately.