Just to confirm - under Reg. GG - a commercial customer is not a consumer and a consumer is a natural person.
So, Reg. GG does not apply to an account to a natural person(s) for commercial purposes (e.g. ag loans or other business purpose), correct?

I would say you are correct. How are you working in your consent at new accounts? Are you having all new commercial account holders sign a consent that either they are or or not engaging in Internet gambling?

Yes, all new commercial customers will sign a certification. However, my understanding is I only need the certification once per commercial customer, unless the customer's business changes. As an abundance of caution, we are looking to include a statement within all business deposit account disclosures as a reminder each time a customer opens another account. Commercial loan customer that do not open deposit accounts will also sign a certification.

Happen to have a sample consent form that I could infinge upon?

Be glad to get you a copy. However, I have not loaded / sent a document. Is there a way to post it here for you?

We are too having all commercial customers sign a certification form at account opening.
I am having trouble writing up our Policy. Does anyone have a sample they mind sharing?

http://www.bankersonline.com/tools/compliance/internetgamblingpolicy.html

There is a policy in Bankers Tool. That's where I got mine and tweaked it for our bank.

What is everyone doing with existing commercial customers? Are you sending a certification form to all?

So is everyone having "all commercial customers" sign the certification...even if they are "loan only" commercial customers? I was thinking probably so, since they could still "receive" a wire transfer or ACH to pay toward the loan.

And September, my understanding is you only had to send notice to your existing commercial customers, not have them sign the certification, but I think if an existing commercial customer opens a new relationship, I will have our reps. get one signed.

We did post the notice on all commercial account statements. It just seems that you should due some sort of due diligence on existing customers too. I suppose that's when the blocking of restricted transactions comes into play. We will not be having loan customers sign the certification at account openeing since this is for transaction accounts and a loan is not a transaction account.

The recent examination and process procedures now indicated that 'card systems are the only designated payment systems that have a transaction coding framework that permits them to identify and block transactions that appear restricted. Accordingly, card systems are the only payment systems for which the joint rule suggests that transactions could be blocked during processing'.

Is anyone aware of any current coding done by Visa/Mastercard which would identify such transactions and the actions we should take? Or is this a prospective action?

I have a notice from Visa dated 11/4/09 that describes their procedures. It's probably available on Visa's website, but I'm not sure where. I got it from someone in our debit card department.

What are you all putting in the "certification" document that you are having customers sign? Anyone willing to share?

I was thinking something along the same lines as what we put in our statement stuffer, overview of reg....signature line and notary line.

Thanks