The Truth in Savings Act is a federal law that protects you from unexpected charges and fees from depository institutions. This act requires them to notify you about annual percentage yields and interest rates, all costs, fees and extra charges associated with your accounts and other information, including your minimum account balances.
Banks are required to provide you with this information when you open your account, and anytime you request such information. It also requires that interest and fee information be provided to you periodically, and if you have a rollover CD, that you will be notified before the maturity date.
Stay In Touch