The Truth in Savings Act has been around for over 30 years and while it has seen some periodic changes, the purpose has always remained the same. That is, as §1030.1(b) points out, …to enable consumers to make informed decisions about accounts at depository institutions… and it…requires depository institutions to provide disclosures so that consumers can make meaningful comparisons among depository institutions. When financial institutions are required to advertise and disclose deposit account features in the same way, it levels the playing field and gives consumers a more apples-to-apples comparison so they can make decisions that are in their best interest.
Kevin explains more in the video.
Published 2026/03/03