Which of the following accounts is typically covered under Regulation DD?

Savings accounts are typically covered under Regulation DD, which is part of the Truth in Savings Act (TISA). Regulation DD was established to provide consumers with clear and concise information about the terms and conditions of deposit accounts. Savings accounts fall under the umbrella of deposit accounts and thus must comply with the disclosure requirements outlined in Regulation DD.

This regulation mandates that financial institutions disclose important information regarding interest rates, fees, and terms in a way that is easily understandable to consumers. As savings accounts are commonly used by individuals for personal finance management, the regulation aims to protect consumers by ensuring transparency in the financial products they choose.

In contrast, loan accounts, business checking accounts, and investment accounts typically are not covered by Regulation DD. Loan accounts pertain to borrowing rather than saving, and business checking accounts can follow different disclosure requirements that cater to business clients. Investment accounts, which involve securities and other investment vehicles, also fall outside the scope of Regulation DD, as they are not considered deposit accounts that hold consumer funds at a financial institution.