The primary purpose of the Truth-in-Savings Act is to give consumers enough information to make an informed decision about deposit accounts they want to open at the bank via standardized disclosures.
The disclosures aid comparison shopping by informing consumers about the fees, annual percentage yield, interest rate, and other terms for deposit accounts. The regulation also includes requirements on the payment of interest, the methods of calculating the balance on which interest is paid, the calculation of the annual-percentage yield, and advertising. This course provides details on all of the Regulation DD requirements.
This course is intended for compliance personnel that those involved in the creation and review of account disclosures.
Know when disclosures and notices are to be given and what is to be included • Review interest paying policies at your bank to ensure they are in compliance with Regulation DD. Ensure your bank's existing advertising and advertising policies at your bank adhere to Regulation DD's advertising provisions.
Rev–Jun. 2021. Course length ≈ 40 minutes. This course is worth 0.5 CPE credits.