On April 15th, the FDIC published for comment proposed rules implementing the Dodd-Frank Act's repeal of the statutory prohibition against the payment of interest on demand deposits. The proposed rules would rescind regulations that have implemented the prohibition with respect to state-chartered nonmember banks. Because the regulations include a definition of "interest" that may assist the FDIC in interpreting a recent statutory amendment that provides temporary, unlimited deposit insurance coverage for noninterest-bearing transaction accounts, the FDIC also proposes to retain and move the definition of "interest" into the deposit insurance regulations. Comments should be submitted on or before May 16, 2011. 76 FR 21265.