Regulation DD: Truth in Savings Act
Seat Time: 0.5hrs - Desc:
This course will introduce the learner to Regulation D and the ways in which it administers the Truth in Savings Act. The course will discuss how Regulation D expects institutions to accurately and uniformly disclose the terms for deposit products and advertise these products honestly. After completing this program, the learner will understand:
- The purpose and importance of accurate disclosures.
- Which disclosures are specifically required under the Truth in Savings Act.
- The definition of terms such as the "Annual Percentage Yield" and "interest rate."
T1. Truth in Savings: This topic will define Regulation DD, which administers the Truth in Savings Act, and describe how it makes it easier for customers to comparison shop when choosing deposit products.
T2. Truth in Savings Disclosures: This topic will outline different types of disclosures made to customers, including account disclosures, subsequent disclosures, periodic statements, and more.