What must a financial institution provide on periodic statements as required by TISA?

The Truth in Savings Act (TISA) mandates that financial institutions provide certain key information on periodic statements to ensure transparency for consumers. Among the requirements is that institutions must include the account balance as well as the interest earned during the statement period. This information is essential for consumers as it helps them understand not only their current financial standing but also how much interest their account has accrued, thus allowing them to make informed decisions regarding their savings.

Providing details about all financial products offered, the bank's history and profile, or customer service hours does not align with TISA's specific requirements for periodic statements. The focus of TISA is on promoting transparency and enabling consumers to track their earnings effectively, which is why the inclusion of the account balance and interest earned is crucial.