Question:
I am starting an online business. I am providing my users a way to earn money, which I will keep for them until they ask to be paid. Of course, writing checks is time consuming, so I'd like to minimize the payout frequency. One easy way to do this would be to pay interest (say 1% EAR) on the money while it is in my possession.
Are there any laws (i.e. a securities or banking provision) that would make this difficult for a one-man shop to do?
Answer:
As long as you don't operate as a bank you won't run into regulatory issues. If you are a broker or something else that needs licensing then you'll need to follow those regulations.
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