12 U.S.C. § 4301 — Findings and purpose
submitted 35 years ago by Pub. L. 102-242 to r/title-12-BANKS-AND-BANKING · 125 words · no verdicts yet
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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—
the rates of interest which are payable on deposit accounts by depository institutions; and
the fees that are assessable against deposit accounts,
so that consumers can make a meaningful comparison between the competing claims of depository institutions with regard to deposit accounts.
Source credit: (Pub. L. 102–242, title II, § 262, Dec. 19, 1991, 105 Stat. 2334.)
- 1991Enacted · Pub. L. 102-242 · 105 Stat. 2334
A history note hasn’t been published yet. The record shows enactment by Pub. L. 102-242 on 1991-12-19.
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