Hi All,

I am having a moment here, I know Regulation E, with regards to unauthorized transactions, do not apply to business accounts. I cannot find it in the regulation. Can someone point me to where I can find it in the regulation?

Here (taken from Reg E):

(b)(1) “Account” means a demand deposit (checking), savings, or other consumer asset account (other than an occasional or incidental credit balance in a credit plan) held directly or indirectly by a financial institution and established primarily for personal, family, or household purposes.

As Skittles points out, there isn't an exemption for business accounts. They simply are not included in the scope of the regulation.

And while you're at it, check to make sure that the new accounts personnel are not giving businesses the reg E materials. A bank can be giving businesses protections they are not entitled to by contract (i.e. giving them the REG E materials and telling them they are covered.)