Magnetic Rate Boards
The Truth in Lending Act (TILA) was implemented by the Board of Governors of the Federal Reserve System Regulation Z (12 CFR Part 226). A principal purpose of TILA is to promote the informed use of consumer credit by requiring disclosures about its terms and cost. To stay in compliance, count on Block to provide the products you need to keep your customers informed.
Our Selection of Rate Boards make it easy to stay in compliance which requires that Financial Institutions disclose the following information to consumers:
(1) The accompanying annual percentage yield; and
(2) A statement that the consumer should request further information from an employee of the depository institution concerning the fees and terms applicable to the advertised account.
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