Which of the following is NOT a requirement under TISA?

The correct answer identifies a requirement that is not imposed by the Truth in Savings Act (TISA). Under TISA, financial institutions must provide clear and upfront disclosures regarding various aspects of deposit accounts to consumers. This ensures that account holders are fully informed about their accounts, including associated fees, interest rate changes, statement frequency, and minimum balance requirements.

The notification of interest rate changes is a critical component of TISA, as consumers should be informed when there are any changes that might affect their account, rather than only when they specifically request such information. Consequently, the law mandates that institutions proactively communicate any rate changes, ensuring transparency and allowing consumers to make informed decisions regarding their accounts.

The other requirements listed—disclosure of potential fees, frequency of account statements, and clear explanations of terms regarding minimum balances—are all established expectations under TISA. This framework is designed to enhance consumer understanding and protect their rights regarding savings accounts and other similar financial products.