Title 12, Banks and BankingRelease 119-110
§4301 Findings and Purpose
Title 12 › CHAPTER 44 — TRUTH IN SAVINGS › § 4301
Summary
Requires banks and credit unions to clearly and consistently show the interest rates they pay on deposit accounts and the fees they charge. Congress found that doing this would help the economy, increase competition among deposit institutions, and let consumers compare and verify accounts.
Full Legal Text
Title 12, §4301
Banks and Banking, Source: USLM XML via OLRC
(a)Findings
The Congress hereby finds that economic stability would be enhanced, competition between depository institutions would be improved, and the ability of the consumer to make informed decisions regarding deposit accounts, and to verify accounts, would be strengthened if there was uniformity in the disclosure of terms and conditions on which interest is paid and fees are assessed in connection with such accounts.
(b)Purpose
It is the purpose of this chapter to require the clear and uniform disclosure of— (1)
(2)the fees that are assessable against deposit accounts,
so that consumers can make a meaningful comparison between the competing claims of depository institutions with regard to deposit accounts.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Short Title
Pub. L. 102–242, title II, § 261, Dec. 19, 1991, 105 Stat. 2334, provided that: “This subtitle [subtitle F (§§ 261–274) of title II of Pub. L. 102–242, enacting this chapter] may be cited as the ‘Truth in Savings Act’.” SeparabilityIf any provision of Pub. L. 102–242 or any application of any provision thereof to any person or circumstance is held invalid, the remainder of Pub. L. 102–242 and the application of any remaining provision of such Act to any other person or circumstance not to be affected by such holding, see section 481 of Pub. L. 102–242, set out as a note under section 1811 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4301
Title 12, Banks and Banking
Last Updated
Sep 22, 2026
Release point: 119-110