Advertisements that state a rate must include what?

When advertisements state a rate, they are required to spell out "Annual Percentage Yield" at least once to ensure that consumers fully understand the terms being presented. This aligns with the regulations that promote clarity and transparency in advertising financial products. By spelling out the term, it helps to eliminate any confusion that may arise from using abbreviations like "APY," which not all consumers may recognize. It is essential for advertisements to provide clear and complete information, allowing consumers to make informed decisions regarding their financial options. Thus, spelling out the term not only fulfills compliance requirements but also enhances consumer understanding of the financial product being marketed.