Truth in Savings Act

[AI summary unavailable — showing source text] Truth in Savings Act - Declares the purpose of this Act to be the meaningful disclosure of terms and conditions of the payment of earnings on individual savings deposits. Establishes a method to determine annual percentage rate, periodic percentage rate, and annual percentage yield. Directs the Federal Reserve Board to issue appropriate regulations which provide for uniform disclosures and regulations as the Board determines are necessary. Establishes savings institutions disclosure requirements to be applied to any individual upon request at the time before such individual initially places funds in an individual savings deposit in a savings institution. Authorizes the Federal Reserve Board to establish additional disclosure requirements. Requires a savings institution to notify its depositors ten days in advance of any change in policy or procedure with respect to any item of information required to be disclosed. Requires advertisements relating to the earnings payable on an individual savings deposit to state with equal prominence the annual percentage rate and the annual percentage yield. Prohibits any indication of any percentage rate or percentage yield based on a period in ex…