Disclosure (Banking) Law & Legal Definition

Disclosure is the act of revealing a fact. In financial statements information disclosure is usually provided in footnote as attachment. Disclosure explains financial position and operating result of an institution. Federal and state laws require banks to provide information on credit terms to customers. Bank disclosure information means information extracted from the key information summaries disclosed by registered banks. Moreover, all consumer and residential mortgagors requires disclosure. Generally, banks are required to disclose the following items: