Other banking hacks of the mid-twentieth century include money market funds and Eurodollar accounts, both designed to circumvent regulatory limits on interest rates offered on more traditional accounts. These hacks all became normalized, either by regulators deciding not to close the loopholes through which they were created or by Congress expressly legalizing them once regulators’ complaints began to pile up. For example, NOW accounts were legalized, first in Massachusetts and New Hampshire, then in New England in general, and finally nationwide in 1980. Many of the other limitations imposed
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