What must a financial institution include in its advertisements under TISA?

Under the Truth in Savings Act (TISA), financial institutions are required to provide clear and accurate information about the annual percentage yield (APY) when advertising deposit accounts. This requirement ensures that consumers can easily compare the yields of different savings products and make informed choices. In addition to the APY, any applicable fees or limitations must also be included in the advertisement. This transparency in advertising helps protect consumers from misleading claims and promotes fair competition among financial institutions.

The inclusion of the APY along with applicable fees or limitations allows customers to fully understand the potential earnings on their savings, as well as any costs that may reduce those earnings. This fosters a more informed customer base, capable of making better financial decisions.

Other options, while they may provide useful information about a financial institution's services, do not meet the specific regulatory requirements set forth by TISA for advertisements related to deposit accounts. For instance, the number of branches, customer testimonials, and online banking services do not contribute directly to the clarity of the terms and offerings of the deposit accounts being advertised, thus they are not mandated by TISA.