DEFINITION of 'Regulation DD'

A regulation set forth by the Federal Reserve. Regulation DD was enacted to implement the Truth in Savings Act that was passed in 1991. This act requires lenders to provide certain uniform information about fees and interest when opening an account for a customer.

BREAKING DOWN 'Regulation DD'

Regulation DD applies only to accounts opened by individuals; it does not apply to corporate or other organizational accounts. Regulation DD helps consumers to make intelligent decisions about where to open financial accounts.

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