Answer:
Yes, Reg. E can apply to MMDAs. It can apply to ATMs and online banking as well, but only for consumers. And the regulation defines a consumer as a natural person.
First published on BankersOnline.com 1/7/02
Reg E Error Resolution and MMDAs
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Question:
Do the Regulation E Error resolution procedures apply to Money Market Deposit Accounts? Also, do the Error Resolution procedures apply to ATM or online banking transactions conducted by businesses?
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