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Truth-in-Savings Act
(redirected from Truth-in-Savings)

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Truth-in-Savings Act
Legislation in the United States, passed in 1991, that requires banks to disclose interest (in APY terms), fees and other information when one seeks to open a savings account. It is enforced through Regulation DD.


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All forms are guaranteed compliant with Truth-in-Lending, Truth-in-Savings, Equal Opportunity and other essential disclosure and consumer protection laws.
Banks and credit unions are having a difficult time trying to get their operating systems to comply with recent Federal Reserve amendments to Electronic Banking (Reg E) and Truth-In-Savings (Reg DD)," said Moebs.
The Financial Relationship Management Package and Consumer Lending Engine provide lending institutions with features including a comprehensive tracking system; multiple Truth-in-Lending (TIL) compliant calculation methods; product-specific pricing controls; HELOC, student and seasonal loans; and a variety of "quick-calc" programs including Truth-in-Savings.
 
 
 
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