Banking with Confidence: Your Rights as a Consumer

At Academy Bank, we believe that financial empowerment starts with knowledge. As part of National Consumer Protection Week, we want to highlight the key rights every banking client should know and how they can help you make informed financial decisions. 

Your Key Consumer Rights in Banking

Understanding your rights helps you bank both safely and confidently. Here are the protections that keep your money and information safe:

1. The Right to Safe and Secure Deposits

Your deposits are protected by FDIC insurance covering up to $250,000 per depositor, per ownership category. This means that even in the unlikely event of a bank failure, your money is safeguarded. 

2. The Right to Fair Lending Practices

Thanks to laws like the Truth in Lending Act (TILA) and the Equal Credit Opportunity Act (ECOA) lenders must provide clear information about loan terms and cannot discriminate based on race, gender, age, or military status. 

3. The Right to Access and Dispute Credit Information

Under the Fair Credit Reporting Act (FCRA), you have the right to check your credit report annually for free at AnnualCreditReport.com. If you spot an error, you can dispute it with the credit bureau. 

4. The Right to Secure and Private Financial Data

Banks must follow strict data security regulations to protect your personal and financial information. You also have the right to opt out of certain types of data sharing. 

5. The Right to Resolution for Fraud and Unauthorized Transactions

If you notice unauthorized transactions on your account, you have protections under the Electronic Funds Transfer Act (EFTA) and Regulation E, which limit your liability if you report fraud quickly. 

How Academy Bank Supports Your Consumer Rights

• Credit Monitoring & Financial Management Tools — With Academy Bank’s My Finance360 clients can track their spending, credit and detect suspicious activity early. 
• Secure Online & Mobile Banking — We implement advanced security measures, including two-factor authentication, to keep your bank accounts safe. 
• Customer Support & Dispute Resolution — If you ever have concerns about your account, our customer service team is here to assist you. 

Understanding your rights is the first step toward banking with confidence. If you have questions about your consumer protections, contact Academy Bank or visit the Federal Trade Commission’s website at FTC.gov.