Reg E is “use dependent”

Answered by:

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 from Reg E alone may save you money, time and trouble, but remember that Reg E and vendor rules are two different things, especially on zero liability.
--------------------------

Learn more about Andy’s Zavoina’s Reg E, More than Claims webinar.