Would anyone be willing to share the wording of the notice they are going to give to all existing commercial customers for Reg GG, Unlawful Internet Gambling. Your help would be greatly appreciated. Thanks

UNLAWFUL INTERNET GAMBLING NOTICE: Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through this account or relationship. Restricted transactions generally include, but are not limited to, those in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation by others in unlawful Internet gambling.

If you are determined, you will find another sample in this thread @ #1244360. There are no model forms.

I read that the notice does not have to be "mailed" to existing commercial customers to be in compliance. The ABA outline of the Reg. says:



Is anybody else thinking about possibly posting on their website, or going another direction besides mailing?

Please compare the paragraph you quote with this excerpt from the supplementary information accompanying the final regulation:

...the final rule provides that a participant could notify all of its commercial customers that restricted transactions are prohibited through a term in the commercial customer agreement, a simple notice sent to the customer, or through some other method.

Whoever wrote your paragraph has added the language suggesting that publication on a web site might be compliant. That is an expression of a personal opinion for which there is no published support.

My personal opinion is that simply publishing the verbiage on a web site would not even be treated as an attempt at compliance.

Now, if you could conjure up a mechanism where commercial customers logging on would have to acknowledge receipt of the notice to clear their screens, track who had done so...

This requirement screams "statement notice" for current customers and a paragraph in your commercial business account agreement for new ones.