Which practice must financial institutions adopt according to TISA?

The correct answer emphasizes that financial institutions are required to operate with full transparency concerning the terms and conditions of their accounts as mandated by the Truth in Savings Act (TISA). This act aims to ensure that consumers receive clear and complete information about their savings accounts, which includes details on fees, interest rates, terms, and other conditions that affect the consumer's financial decisions.

By promoting transparency, TISA seeks to empower consumers by enabling them to make informed choices regarding their savings options. This means that financial institutions must clearly disclose essential information in their account disclosures and marketing materials, thereby promoting a fair and competitive environment in the banking sector.

The other options are not aligned with the requirements of TISA. Providing limited information, minimizing communications, or focusing solely on interest rates would not meet the act’s goal of ensuring that consumers understand all aspects of their accounts. Such practices would lead to confusion and a less informed customer base, which is counter to the objectives of TISA.