Title 12 — Banks and BankingRelease 119-73
§4304 Disclosure requirements for certain accounts
Title 12 › Chapter CHAPTER 44— - TRUTH IN SAVINGS › § 4304
Summary
The Bureau must make rules that change how the annual percentage yield (APY) is shown on account disclosures when needed to meet the chapter’s goals. Those rule changes must cover five kinds of accounts: ones with a guaranteed annual rate for less than 1 year; variable-rate accounts; accounts that under law do not guarantee a stated rate; accounts with multiple rates; and accounts where APY is based on an annual rate guaranteed for a stated term.
Full Legal Text
Title 12, §4304
Banks and Banking — Source: USLM XML via OLRC
The Bureau shall require, in regulations which the Bureau shall prescribe, such modification in the disclosure requirements under this chapter relating to annual percentage yield as may be necessary to carry out the purposes of this chapter in the case of— (1)
(2)variable rate accounts;
(3)accounts which, pursuant to law, do not guarantee payment of a stated rate;
(4)multiple rate accounts; and
(5)accounts with respect to which determination of annual percentage yield is based on an annual rate of interest that is guaranteed for a stated term.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2010—Pub. L. 111–203 substituted “Bureau” for “Board” in two places in introductory provisions. 1992—Pub. L. 102–550 made technical amendment to references to “this chapter” wherever appearing to reflect correction of corresponding provision of original act.
Statutory Notes and Related Subsidiaries
Effective Date
of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.
Effective Date
of 1992 AmendmentAmendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4304
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73