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Federal Reserve Sets Advertising Rules for Banks and S&Ls
The Fed and other federal agencies issue voluntary standards to curb misleading deposit rate ads. Key rules require clear simple interest disclosures, no implied higher profits, time deposit terms, and no more than 15000 dollars claimed in federal insurance per depositor. Vice Chairman J L Robertson cites fierce savings competition driving risky ads.
MENTIONED IN THIS ARTICLE
Washington
Savings and Loan
Federal Reserve Board
Comptroller of the Currency
Federal Deposit Insurance Corp
Federal Home Loan Bank Board
Federal Reserve System
J. L. Robertson