Applicability and Disclosures

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  • #10569

    Reg CC in particular subpart D, does this apply to business accounts? From the verbiage of the regulation it appears to apply to all transactional accounts but it seems as though it is only necessary to disclose this to consumers. Is it necessary to provide business accounts with the same substitute check disclosures provided to consumers? Can anyone clarify this for me.


    Subpart D applies to all deposit accounts as defined in Reg. D, 12 CFR 204.2(a)(1)(i). This includes transaction, savings, MMDA and time deposits.

    However, the expedited re-crediting rules under 229.54 and the notification requirements under 229.57 only apply to consumers/consumer accounts.

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