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HR 5232 98th Congress House

Truth in Savings Act

Official title: A bill to provide for the uniform disclosure of the rates of interest which are payable on savings accounts.

Introduced: March 22, 1984 See on congress.gov
Finance and Financial Sector Advertising and MarketingBank depositsConsumer educationConsumer protection
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Deceptive advertisingInterestInterest rates
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This bill died when the 98th Congress ended
It never became law before the 98th Congress (1983–1984) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 8, 1984
Subcommittee Hearings Held.
Apr 3, 1984
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Mar 22, 1984
Referred to House Committee on Banking, Finance and Urban Affairs.
Mar 22, 1984
Introduced in House
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 Latest action August 8, 1984

Subcommittee Hearings Held.

 Plain-English summary Congressional Research Service

Truth in Savings Act - Requires each advertisement, announcement, or solicitation made by any depository institution regarding the rate of interest payable on any deposit to: (1) state the annual percentage yield and the method of compounding interest; (2) state the annual rate of simple interest for the period during which such rate will be effective; and (3) give equal prominence to all annual percentage yields and annual rates of simple interest.

Requires the annual percentage yield to always be stated before the annual rate of simple interest.

Requires the Board of Governors of the Federal Reserve System to prescribe such regulations as necessary to carry out and facilitate compliance with the provisions of this Act and to prevent their evasion or circumvention.

 Committees of jurisdiction 2
 Cosponsors 7
All 7 Democratic 5
D
Markey, Edward J.
Massachusetts · Jun 25, 1984
 D
Durbin, Richard J.
Illinois · Jun 18, 1984
STENHOLM, CHARLES
· Jun 18, 1984
FROST, MARTIN
· May 15, 1984
 D
Hoyer, Steny H.
Maryland · May 1, 1984
 D
Kaptur, Marcy
Ohio · Mar 22, 1984
 D
Schumer, Charles E.
New York · Mar 22, 1984
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5232: Truth in Savings Act. 98th Congress. Open America. https://openamerica.io/bill/98-HR-5232/
MLA
"H.R. 5232: Truth in Savings Act." 98th Congress, 2026, Open America, https://openamerica.io/bill/98-HR-5232/.
Bluebook (legal)
H.R. 5232, 98th Cong. (2026), https://openamerica.io/bill/98-HR-5232/.
Markdown link
[H.R. 5232: Truth in Savings Act](https://openamerica.io/bill/98-HR-5232/)
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