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Reg E is “use dependent”

Question: 
I have heard that business accounts do not fall under Reg E. How does this apply to internet banking and what about a business account that is a sole proprietorship?
Answer: 

Reg E is concerned with consumer asset accounts as these are subject to Reg E, but business accounts are not. Excluding sole prop and other business accounts alone may save you money, time and trouble, but remember that Reg E and vendor rules are two different things, especially on zero liability.
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Learn more about Andy Zavoina’s webinar A to Z of Reg E

First published on 03/15/2020

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