PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Telecommunications and Finance.
Congressional Research Service
Version 00 · Introduced in House · May 11, 1993
Truth in Disclosure Act - Prescribes disclosure guidelines for financial intermediaries who advertise or solicit investment accounts. Authorizes Federal regulatory agencies to exempt from such disclosure requirements an advertisement or solicitation made by a broadcast or electronic medium or outdoor advertising display which is not on the premises of a financial intermediary. Prohibits misleading or inaccurate advertisements or solicitations. Prescribes disclosure guidelines under which financial intermediaries are required to maintain and distribute to a consumer a schedule of investment product fees, interest rates, and terms. Prescribes guidelines for the calculation and payment of interest-earning accounts. Mandates clear and conspicuous disclosure on each investor's periodic statements of the: (1) annual percentage yield earned; (2) amount of earnings; (3) amount of fees imposed; and (4) number of days in the reporting period. Requires the appropriate Federal agency to prescribe implementing regulations. Prescribes civil liability guidelines for violations of this Act.
People & committees
Rep. Slattery, Jim [D-KS-2] · D–KS
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on Telecommunications and Finance.
Referred to the Subcommittee on Consumer Credit and Insurance.
Referred to the House Committee on Energy and Commerce.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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