Use of in Terms of Use text

In previous versions, the "Terms of Use" document used <site> as a tag to represent the site name but since I have upgraded to 7.1.1 (perhaps with 7.1.0, as well) , this just places a period (.) in the text.   Is there a setting I have to add to get my site name back into this notice?

It has changed.

Edit the terms and replace <site> with {0}