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Lending Compliance
Business Credit Cards & liability
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#664328
-
01/10/07
08:45 PM
Business Credit Cards & liability
JW
Gold Star
Joined:
Nov 2005
Posts: 269
Indiana
I know Reg E only protects consumers. Is it possible to offer a credit card for businesses that does not have the bank liable for transactions conducted on lost/stolen cards?
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Lending Compliance
#664606
-
01/11/07
02:24 PM
Re: Business Credit Cards & liability
JW
rlcarey
10K Club
Joined:
Jul 2001
Posts: 83,227
Galveston, TX
It would all depend totally on the rules of the card issuer and a very carefully worded card agreement.
_________________________
The opinions expressed here should not be construed to be those of my employer:
PPDocs.com
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#665723
-
01/12/07
06:41 PM
Re: Business Credit Cards & liability
rlcarey
Compliancer
Gold Star
Joined:
Jan 2006
Posts: 334
San Francisco, CA
As he said, it can be done. Just be aware that you must adhere to the association Zero Liability policy and local/state law.
_________________________
My opinions do not necessarily reflect those of all the voices in my head.
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#667646
-
01/17/07
11:39 PM
Re: Business Credit Cards & liability
Compliancer
--houri--
Member
Joined:
Sep 2006
Posts: 94
Los Angeles, CA
Reg E doesn't apply to credit cards - only ACH, Debit and ATM cards. Credit cards fall under Reg Z, state laws, and Visa/MasterCard rules.
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