---
kind: "section"
citation: "12 U.S.C. § 4302"
title: "12"
title_heading: "Banks and Banking"
number: "4302"
heading: "Disclosure of interest rates and terms of accounts"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4302"
units:
  - "Chapter 44 — Truth in Savings"
---

# §4302. Disclosure of interest rates and terms of accounts

- (a) **In general—** Except as provided in subsections [(b)](#b) and [(c)](#c), each advertisement, announcement, or solicitation initiated by any [depository institution](/usc/12/4313.md?p=6) or [deposit broker](/usc/12/4313.md?p=5) relating to any demand or [interest](/usc/12/4313.md?p=7)-bearing [account](/usc/12/4313.md?p=1) offered by an [insured depository institution](/usc/12/1861.md?p=b-4) which includes any reference to a specific rate of [interest](/usc/12/4313.md?p=7) payable on amounts deposited in such [account](/usc/12/4313.md?p=1), or to a specific yield or rate of earnings on amounts so deposited, shall [state](/usc/12/1707.md?p=d) the following information, to the extent applicable, in a clear and conspicuous manner:
  - (1) The [annual percentage yield](/usc/12/4313.md?p=2).
  - (2) The period during which such [annual percentage yield](/usc/12/4313.md?p=2) is in effect.
  - (3) All minimum [account](/usc/12/4313.md?p=1) balance and time requirements which must be met in order to earn the advertised yield (and, in the case of [accounts](/usc/12/4313.md?p=1) for which more than 1 yield is stated, each [annual percentage yield](/usc/12/4313.md?p=2) and the [account](/usc/12/4313.md?p=1) minimum balance requirement associated with each such yield shall be in close proximity and have equal prominence).
  - (4) The minimum amount of the initial deposit which is required to open the [account](/usc/12/4313.md?p=1) in order to obtain the yield advertised, if such minimum amount is greater than the minimum balance necessary to earn the advertised yield.
  - (5) A statement that regular fees or other conditions could reduce the yield.
  - (6) A statement that an [interest](/usc/12/4313.md?p=7) penalty is required for early withdrawal.
- (b) **Broadcast and electronic media and outdoor advertising exception—** The [Bureau](/usc/12/4313.md?p=4) may, by regulation, exempt advertisements, announcements, or solicitations made by any broadcast or electronic medium or outdoor advertising display not on the premises of the [depository institution](/usc/12/4313.md?p=6) from any disclosure requirements described in paragraph [(4)](#a-4) or [(5)](#a-5) of subsection (a) if the [Bureau](/usc/12/4313.md?p=4) finds that any such disclosure would be unnecessarily burdensome.
- (c) **Disclosure required for on-premises displays—** The disclosure requirements contained in this section shall not apply to any sign (including a rate [board](/usc/12/1861.md?p=b-3)) disclosing a rate or rates of [interest](/usc/12/4313.md?p=7) which is displayed on the premises of the [depository institution](/usc/12/4313.md?p=6) if such sign contains—
  - (1) the accompanying [annual percentage yield](/usc/12/4313.md?p=2); and
  - (2) a statement that the [consumer](/usc/12/5481.md?p=4) should request further information from an employee of the [depository institution](/usc/12/4313.md?p=6) concerning the fees and terms applicable to the advertised [account](/usc/12/4313.md?p=1).
- (d) **Misleading descriptions of free or no-cost accounts prohibited—** No advertisement, announcement, or solicitation made by any [depository institution](/usc/12/4313.md?p=6) or [deposit broker](/usc/12/4313.md?p=5) may refer to or describe an [account](/usc/12/4313.md?p=1) as a free or no-cost [account](/usc/12/4313.md?p=1) (or words of similar meaning) if—
  - (1) in order to avoid fees or service charges for any period—
    - (A) a minimum balance must be maintained in the [account](/usc/12/4313.md?p=1) during such period; or
    - (B) the number of transactions during such period may not exceed a maximum number; or
  - (2) any regular service or transaction fee is imposed.
- (e) **Misleading or inaccurate advertisements, etc., prohibited—** No [depository institution](/usc/12/4313.md?p=6) or [deposit broker](/usc/12/4313.md?p=5) shall make any advertisement, announcement, or solicitation relating to a deposit [account](/usc/12/4313.md?p=1) that is inaccurate or misleading or that misrepresents its deposit contracts.

## Source credit

(Pub. L. 102–242, title II, § 263, Dec. 19, 1991, 105 Stat. 2334; Pub. L. 102–550, title IX, § 957(a), Oct. 28, 1992, 106 Stat. 3896; Pub. L. 104–208, div. A, title II, § 2604(b), Sept. 30, 1996, 110 Stat. 3009–471; Pub. L. 111–203, title X, § 1100B(1), July 21, 2010, 124 Stat. 2109.)

## Notes

### Editorial Notes

### Amendments

2010—Subsec. (b). Pub. L. 111–203 substituted “Bureau” for “Board” in two places.

1996—Subsec. (c). Pub. L. 104–208 redesignated par. (1) as entire subsec. (c) and subpars. (A) and (B) of former par. (1) as pars. (1) and (2), respectively, and struck out former par. (1) heading and heading and text of former par. (2). Text of former par. (2) read as follows: “For purposes of paragraph (1), a sign shall only be considered to be displayed on the premises of a depository institution if the sign is designed to be viewed only from the interior of the premises of the depository institution.”

1992—Subsec. (a). Pub. L. 102–550, § 957(a)(1), substituted “subsections (b) and (c)” for “subsection (b)”.

Subsecs. (c) to (e). Pub. L. 102–550, § 957(a)(2), (3), added subsec. (c) and redesignated former subsecs. (c) and (d) as (d) and (e), respectively.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the designated transfer date, see section 1100H of Pub. L. 111–203, set out as a note under section 552a of Title 5, Government Organization and Employees.