When must disclosures be provided at account opening?

Disclosures must be provided before an account is opened or a service is provided to ensure that consumers have all necessary information to make informed decisions about their financial commitments. This requirement is designed to promote transparency and protect consumers by making critical information about fees, terms, interest rates, and other account details available upfront. By receiving these disclosures in advance, consumers can evaluate whether the account meets their needs and compare it with other options before making a commitment. This principle is a key component of the Truth in Savings Act, which aims to foster clear communication between financial institutions and consumers.