12 U.S.C. § 4301
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.
It is the purpose of this chapter to require the clear and uniform disclosure of-
so that consumers can make a meaningful comparison between the competing claims of depository institutions with regard to deposit accounts.
12 U.S.C. § 4301
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.
- consumer
- The term "consumer" means an individual or an agent, trustee, or representative acting on behalf of an individual.
- person
- The term "person" means an individual, partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity.