Truth in Savings Act

[AI summary unavailable — showing source text] Truth in Savings Act - Declares that economic stability would be enhanced and competition among savings institutions improved by full disclosure of the terms and conditions under which earnings on savings deposits are payable. Declares that the purposes of this Act to be the meaningful disclosure of terms and conditions of the payment of earnings on individual savings deposits. Establishes definitions for such pertinent terms as "Board", "individual", "individual savings deposit", "earnings", "payable", and "savings institution", so as to make the Act applicable to consumer deposits in savings institutions. Excludes deposits of funds in excess of $25,000 and funds placed with concerns which are not in normal usage considered to be savings institutions from the provisions of this Act. Excludes any obligation issued by any Federal, State or local government, or any agency, instrumentality, or authority thereof, except that the Federal Reserve Board may issue regulations to require disclosures by any agency, instrumentality, or authority of the Federal Government. Establishes a method to determine annual percentage rate, periodic percentage rate, and annual percentage yield. Confers o…