How often should TISA disclosures be sent for accounts with changes?

The correct answer is that TISA disclosures should be sent whenever there is a term change. Under the Truth in Savings Act, financial institutions are required to provide clear disclosures to consumers, particularly when there are significant changes to the terms of their accounts. This ensures that consumers are fully informed about aspects such as interest rates, fees, and terms of their accounts, allowing them to make educated decisions regarding their finances.

Disclosing changes in terms promptly is important because it keeps the account holders aware of any modifications that could impact their account terms or their financial situation. This approach enhances transparency and helps maintain consumer trust in financial institutions.

While regulations may vary regarding how often general disclosures should be sent, the emphasis on notifying consumers about specific term changes aligns with the core goals of TISA to promote informed consumer decision-making. Other options, while they may suggest regular communication with consumers, do not reflect the requirement for timely disclosures specific to changes in account terms.