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#659352 - 12/29/06 09:08 PM Reg E Disclosure - Business Accounts
Blogger Offline
Member
Joined: Aug 2004
Posts: 80
VA
I have noticed that our online banking disclosure for businesses has our Reg. E error resolution info in it. Also, the Reg. E error resolution info is also found on the back of all of our statments to business account holders...does this mean that we have to comply with this notice because they have been provided it?

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#659464 - 12/29/06 11:22 PM Re: Reg E Disclosure - Business Accounts Blogger
MT Pockets Offline
100 Club
Joined: Oct 2004
Posts: 238
Up North
It is my understanding that you do not have to provide the protections of Reg E to business accounts even though you provide the error resolution notice to them. However, it is good customer service to try to assist business customers with Reg E transaction problems using the same timeframes.
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If you keep doing what you've always done, you'll get what you always got.

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#659503 - 12/30/06 05:28 PM Re: Reg E Disclosure - Business Accounts MT Pockets
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
You really should remove ambiguity from your online banking disclosures for businesses. Don't disclose what you aren't prepared to do. As for your statement paper, you should head the Reg. E error resolution notice with "The following applies to consumer accounts only."
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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