This is a federal law that requires depository institutions to inform you of the following: Annual percentage yield and interest rate Costs, fees, extra charges Other info including minimum balance requirements Because of this act, you will get a disclosure of all this info from the bank you are opening an account with. This act also requires that banks provide you with this info upon request. The Act also requires that interest and fee information be provided to you in periodic updates, and that if you have a rollover CD, you will be notified before the maturity date.