What must an advertisement include if it uses the abbreviation "APY"?

When an advertisement uses the abbreviation "APY," it is essential that the term "Annual Percentage Yield" is included at least once in the advertisement. This requirement is in place to ensure that consumers clearly understand what the abbreviation means, promoting transparency and providing the necessary context for the financial information being presented. By defining APY, consumers can make informed comparisons between different savings products based on their yields.

This regulation is part of the broader intent of the Truth in Savings Act (TISA) to enhance consumer protection and facilitate easy comparison shopping among financial institutions. Including the full term alongside the abbreviation ensures that individuals are not misled and can accurately evaluate how different accounts will perform over time.