Answer:
Recent amendments to Regulation E have not impacted the coverage of the regulation: 205.2(b)(1) Account means a demand deposit (checking), savings, or other consumer asset account (other than an occasional or incidental credit balance in a credit plan) held directly or indirectly by a financial institution and established primarily for personal, family, or household purposes. Since a sole proprietorship checking account is established for business purposes, it is not covered.
First published on BankersOnline.com 10/11/10