Regulation DD (Truth in Savings Act) requires a depository institution to …provide account disclosures to a consumer before an account is opened or a service is provided, whichever is earlier. The account-opening disclosures essentially need to spell out the terms of the account so that the consumer can make informed decisions and should include specific information related to the following:
- Rate information
- Compounding and crediting
- Balance information
- Fees
- Transaction limitation
- Features of time accounts, if applicable
- Bonuses, if applicable
Kevin explains some of the other requirements for providing disclosures in the video.
Published 2026/03/17
Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).
