I am trying to confirm if Reg DD governs business accounts. I have found this in my research that Reg DD governs consumers. And consumer are defined as follows:
(h) Consumer means a natural person who holds an account primarily for personal, family, or household purposes, or to whom such an account is offered. The term does not include a natural person who holds an account for another in a professional capacity.
Accordingly, it looks as if it does not govern business accounts, which ties along with Reg Z. Correct or incorrect?
Tina A Sweet-Williams
AVP Special Assets