What does TISA require concerning fees associated with deposit accounts?

The Truth in Savings Act (TISA) requires financial institutions to provide clear and comprehensive disclosures of all fees associated with deposit accounts. This includes not only maintenance fees but also any other charges that could impact the cost of maintaining the account, such as transaction fees, ATM charges, and overdraft fees. By mandating the disclosure of all fees, TISA aims to ensure that consumers are fully informed and can make comparisons between different financial products. This transparency helps customers understand the actual costs they may incur and supports their ability to make informed choices about their banking options. In contrast, the other choices imply a limited disclosure or exemption from fee disclosure, which would not comply with TISA’s requirement for full transparency.