We currently provide an Electronic Banking Disclosure with each new account or Debit card, whether Personal or Business. This Disclosure talks about everything from ACH, Debit Card, Bill pay and has the standard Reg E language. Since Reg E only pertains to Consumers, I have been asked to create a separate Electronic Banking Disclosure for Commercial/Businesses as they need to understand Reg E doesn't apply to them. Does anyone out have two separate Disclosures, one for Consumer & one for Commercial/Business? Some of the language would be exactly the same.

We do not give a disclosure to non-consumer accounts.

I HIGHLY advise not giving non-consumers a Reg E disclosure. You want to give non-consumer a card holder agreement, but you don't want to give them rights that aren't granted to them by law.

Most of our clients simply give a card holder agreement that does not state anything about the EFTA or Reg E.

The biggest difference would be the absence of Reg E on the commercial account, but the inclusion of any specific vendor requirements such as what V/MC may impose.

I personally believe it could be a UDAP issue to provide Reg E disclosures to commercial accounts as it certainly promotes confusion unless the disclosures are clear as to what section pertains to what accounts.