Hello,

I was inquiring about what information is required to have in a business disclosure that's handed to a customer at the time of a new account opening?

If there are specific state requirements, our bank is in PA.

We are looking to clean up our procedures/Disclosures.

Nothing comes to mind as being required other than Funds Availability. Commercial accounts are a matter of contract law and ensuring that agreements/disclosures do not represent a UDAAP. This is a discussion to have with your legal counsel.

My bank elects to provide TISA-type disclosures for commercial deposit accounts to minimize potential UDAAP risk. Otherwise, how would those customers know the details of the products, fees, any transaction limitations, etc.? Also, I think is beneficial from a customer service perspective to provide that information even when otherwise not required to do so under federal or state law.