WASHINGTON -- The American Bankers Association on Monday urged key lawmakers to subject mutual funds and other financial services companies to the same kind of disclosure requirements that banks face under the Truth-in-Savings Act.

While consumers now view a broad range of financial products as interchangeable, "there is no coherent government policy on disclosures by these various sectors of the financial services industry," said ABA president William H. Brandon Jr.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.