Passed in 1991 at the height of the Savings and Loan Crisis (S&L), this act fortified the FDIC's role and resources in protecting consumers. The most notable provisions of the act raised the FDIC's U.S. Treasury line of credit from $5 million to $30 million, revamped the FDIC auditing and evaluation standards of member banks, and created the Truth in Savings Act (Regulation DD).

Investopedia Says:
While it may be hard to fully appreciate the changes made to the internal workings of the FDIC through this legislative act, most consumers can agree that the Truth in Savings Act has gone a long way towards forcing banks to deliver on their advertised promises. 

The Truth in Savings Act, which was part of the FDICIA, has forced banks to begin disclosing savings account interest rates using the uniform annual percentage yield (APY) method. This has helped consumers to better understand their potential return on a deposit at a bank, as well as to compare multiple products and multiple banks simultaenously.

Related Links:
Learn how the FDIC is helping to keep your money in your pockets. Are Your Bank Deposits Insured?
Money invested in a brokerage account has some protection, but that doesn't mean you can't lose it. Are My Investments Insured Against Loss?
These nonprofit organizations can provide a range of services for lower fees. Tired Of Banks? Try A Credit Union
The SIPC and FDIC insure against personal financial ruin when banks or brokerages go belly up. Bank Failure: Will Your Assets Be Protected?

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