Truth in Savings Act

Filed Under » , , ,
Dictionary Says

Definition of 'Truth in Savings Act '

A federal law passed by Congress on December 19, 1991 as part of the Federal Deposit Insurance Corporation (FDIC) Improvement Act of 1991. The act was implemented under Federal Regulation DD. The Truth in Savings Act was designed to help promote competition between depository institutions and make it easier for consumers to compare interest rates, fees and terms associated with savings institutions' deposit accounts. The Truth in Savings Act established uniform guidelines for how banks and other financial institutions disclose information about deposit accounts to individuals. 

Also known as TISA.  
Investopedia Says

Investopedia explains 'Truth in Savings Act '

The Truth in Savings Act applies to individuals opening accounts for personal or household use. It does not apply to business accounts opening a corporate account or organizations (such as nonprofits) opening a business deposit account. 
Search results for

'Truth in Savings Act'

  • The Federal Reserve: Duties | Investopedia

    http://www.investopedia.com/university/thefed/fed2.asp
    ... Examples are the Truth in Lending Act, the Equal Credit Opportunity Act, the
    Home Mortgage Disclosure Act and the Truth in Savings Act. ...

  • On This Day In Finance: May 29 - The Truth In Lending Act ...

    http://financialedge.investopedia.com/financial-edge/0509/Today-in-Finance-May-29---The-Truth-In-Lending-Act.aspx
    ... On May 29, 1968, the Truth in Lending Act (TILA) was ... The act standardized credit
    terms such as the annual percentage rate (APR ... Current Rates. Savings Home Equity ...

  • The Banking System: Commercial Banking - How Banks Are Regulated ...

    http://www.investopedia.com/university/banking-system/banking-system6.asp
    ... to ensure that banks adequately disclose the rates, costs and terms for loans (Truth
    In Lending Act), disclose the terms for savings accounts (Truth In Savings ...

  • The Pension Bill: A Wolf In Sheep's Clothing

    http://www.investopedia.com/articles/retirement/06/pensionbill2006.asp
    ... hit the major points as pertaining to retirement savings. ... In theory, the Act will
    force companies to ... In truth, the legislation provides an enormous incentive ...

  • Series 7 Study Guide - Securities Markets - Blue Sky Laws and the ...

    http://www.investopedia.com/exam-guide/series-7/securities-markets/blue-sky-laws.asp
    ... Credit & Loans; Insurance; Retirement; Home & Auto; Savings; Budgeting; ... the issuance
    of new offerings is the Securities Act of 1933, or the Truth in Securities ...

  • The History Of Consumer Credit Rights

    http://www.investopedia.com/articles/pf/08/credit-billing-act.asp
    ... In response to these and other unfair practices, Congress passed the Truth in Lending
    Act (TILA) (1968), which required credit card companies to explicitly ...

  • Consumer Protection Laws You Need To Know

    http://www.investopedia.com/articles/pf/10/know-your-consumer-protection-laws.asp
    ... Scams According to the book, "The Truth About Avoiding ... not be able to open a checking
    or savings account for ... including the Home Owner Protection Act, the Home ...

  • Series 26 Study Guide - Recordkeeping Rules - SEC Section 17 ...

    http://www.investopedia.com/exam-guide/series-26/recordkeeping-rules/sec-section-17.asp
    ... Under Section 17 of the Securities Exchange Act of 1934, every national securities ...
    of the firm must prepare an affidavit attesting to the truth or correctness ...

  • Is Your Defined-Benefit Pension Plan Safe?

    http://www.investopedia.com/articles/retirement/08/safe-db-plan.asp
    ... to learn the truth and plan for any shortfalls. Also, if you participate in a private
    DB plan offered by a company, provisions of the Pension Protection Act of ...

  • The Defined-Contribution Plan: A Flawed Concept

    http://www.investopedia.com/articles/retirement/12/defined-contribution-flaws.asp
    ... 1974 when The Employee Retirement Income Security Act gave formal ... retire will remain
    a threat to savings and income ... and gives them a choice, the truth is that ...

Related Articles

Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.46%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.59% 4.60%
$30K Home Equity Loan 5.74% 5.77%
$50K Home Equity Loan 5.45% 5.50%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.46%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.80% 3.80%
15 Year Fixed 3.09% 3.11%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.65% 2.69%
3/1 ARM 2.69% 2.69%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.34% 4.36%
36 Month New Car Loan 3.11% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links