TRUTH IN SAVINGS ACT
Federal law which aims to help in promoting competition among depository institutions for consumers to easily compare interest rates, terms, and fees associated with deposit accounts. Enacted as part of the Deposit Insurance Corporation (FDIC) Improvement Act of 1991, the legislation created uniform guidelines for banks and other financial institutions in disclosing details about deposit accounts to individuals. Also called TISA.
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Glossary. The Major Forex Market Terms.
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