New York Consolidated Laws, Banking Law - BNK § 14-c. Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts

(a) disclosure of the annual rate of simple interest;  the effective annual yield;  the formula used in calculating interest;  the frequency of compounding and crediting of interest;  date on which a deposit begins to earn interest;  any delay in crediting a deposited instrument;  grace periods for deposits and withdrawals;  the minimum balance required to earn interest;  the method of determining the balance on which interest is paid;  the minimum length of time funds must remain on deposit to earn interest;  any fees levied on inactive accounts;  any charges, penalties or other conditions imposed upon withdrawals;  any penalties for the closing of an account before a specific date;  and any other fees, charges or penalties.

(b) form, content and distribution of information.