Reg E is “use dependent”

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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.