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Reg E for Business Accounts

Which regulation applies to business accounts that is similiar to Reg E for consumers?


There's possibly a state law that would cover this subject, but there is no federal rule. That leaves the terms of the contract.

Some banks use the same deposit contract language for business and consumer accounts. If the bank, for example, makes disclosures to its business customers that they will receive the Regulation E protections, your state's courts might consider that a contractual obligation.

Published on BankingQuestions.com 10/02/08