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#2251014 - 03/23/21 03:15 PM TISA and Reg E Disclosures on Business Accounts
Anonymous
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Do any of you provide these on business accounts? It seems to me even if they are marked "applies to consumer accounts only" it can create confusion. I think the thought process, particularly on the TISA, is so the business customer is aware of the interest rate/account parameters, but I don't want to bind us to the same practices on consumer accounts that are not required on business/commercial customers.

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#2251015 - 03/23/21 03:18 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
Skittles Offline
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Skittles
Joined: Sep 2002
Posts: 13,876
TN
We do not supply these on business accounts.
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#2251017 - 03/23/21 03:21 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
Bankwoman1 Offline
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Joined: Dec 2015
Posts: 695
Midwest
Same here. We do not provide these on business accounts.

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#2251025 - 03/23/21 03:50 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
P*Q Offline

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Definitely not.

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#2251035 - 03/23/21 04:55 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
ACBbank Offline
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ACBbank
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Posts: 3,843
New York City
We don't either. I thought the TISA applied to consumer only? We still disclose the interest rate & TCs of our business accounts though.
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#2251053 - 03/23/21 06:52 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
Anonymous
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Thanks, all (original anon here). ACBbank - yes, TISA does apply to consumer only so that was my concern that it can be confusing to give that disclosure to business customers. So are you saying you disclose rate, min bal, etc. within your terms and conditions documents on business accounts?

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#2251415 - 03/29/21 07:28 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
John Burnett Offline
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John Burnett
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Cape Cod
Your business customers need that information as to costs, etc. What they don't get (and should not be confused to think they do get) are the consumer protections that come with Reg E, in particular, but Reg DD, too.
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#2251424 - 03/29/21 09:03 PM Re: TISA and Reg E Disclosures on Business Accounts Anonymous
AnothAnon
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Originally Posted by John Burnett
Your business customers...don't get (and should not be confused to think they do get)...consumer protections that come with Reg E, in particular, but Reg DD, too.

Another anon here but...I've raised this issue, oh, half a dozen times. It has not been acted upon. Can anyone advise any tips for persuading those with the power to effect change, exactly how big and bad this issue is? I've come to think we're going to have to take a loss of at least $10,000 before someone finally realizes I've been bringing this up for 2 years.

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