Dictionary of Banking Terms and Phrases

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Dictionary of Banking Terms and Phrases

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Account Agreement

Account History

Account Holder

Accrued Interest

Acquiring Bank

Adjustable-Rate Mortgages (ARMS)

Adverse Action

Adverse Action Notice

Affidavit

Alteration

Amortization

Annual Percentage Rate (APR)


A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

The contract governing your open-end credit account it providesinformation on changes that may occur to the account

The payment history of an account over a specific period of time includingthe number of times the account was past due or over limit

Any and all persons designated and authorized to transact business onbehalf of an account Each account holders signature needs to be on file with the bank Thesignature authorizes that person to conduct business on behalf of the account

Interest that has been earned but not yet paid

In a merger the bank that absorbs the bank acquired

Also known as variable-rate mortgages The initial

interest rate is usually below that of conventional fixed-rate loans The interest rate maychange over the life of the loan as market conditions change

There is typically a maximum (or ceiling) and a minimum (or floor) defined in the loanagreement If interest rates rise so does the loan payment If interest rates fall the loanpayment may as well

Under the Equal Credit Opportunity Act a creditors refusal to grant crediton the terms requested termination of an existing account or an unfavorable change in anexisting account

The notice required by the Equal Credit Opportunity Act advising acredit applicant or existing debtor of the denial of their request for credit or advising of achange in terms considered unfavorable to the account holder

A sworn statement in writing before a proper official such as a notary public

Any change involving an erasure or rewriting in the date amount or payee of acheck or other negotiable instrument

The process of reducing debt through regular installment payments ofprincipal and interest that will result in the payoff of a loan at its maturity

The cost of credit on a yearly basis expressed as a

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Annual Percentage Yield (APY)

Annuity

Application

Appraisal

Authorization

Automated Clearing House (ACH)

Automated Teller Machine (ATM)

Automatically Protected

Automatic Bill Payment

Availability Date

Availability Policy

Available Balance

Available Credit

percentage

A percentage rate reflecting the total amount of interestpaid on a deposit account based on the interest rate and the frequency of compounding for a365-day year

A life insurance contract sold by insurance companies brokers and other financialinstitutions It is usually sold as a retirement investment An annuity is a long-term investmentand can have steep surrender charges and penalties for withdrawal before the annuitys

maturity date (Annuities are not FDIC insured)

Under the Equal Credit Opportunity Act (ECOA) an oral or written request foran extension of credit that is made in accordance with the procedures established by acreditor for the type of credit requested

The act of evaluating and setting the value of a specific piece of personal or realproperty

The issuance of approval by a credit card issuer merchant or other affiliateto complete a credit card transaction

A computerized facility used by member depositoryinstitutions to electronically combine sort and distribute inter-bank credits and debits ACHsprocess electronic transfers of government securities and provided customer services suchas direct deposit of customers salaries and government benefit payments (ie socialsecurity welfare and veterans entitlements) and preauthorized transfers

A machine activated by a magnetically encoded card orother medium that can process a variety of banking transactions These include acceptingdeposits and loan payments providing withdrawals and transferring funds between accounts

As of May 1 2011 up to two months of Federal benefits such asSocial Security benefits Supplemental Security Income benefits Veteranrsquos benefits Railroad

Retirement benefits and benefits from the Office of Personnel Management that are directdeposited to an account may be protected from garnishment The amount automaticallyprotected will depend upon the balance of the account on the day of review

A checkless system for paying recurring bills with oneauthorization statement to a financial institution For example the customer would only haveto provide one authorization formletterdocument to pay the cable bill each month Thenecessary debits and credits are made through an Automated Clearing House (ACH)

Banks policy as to when funds deposited into an account will be availablefor withdrawal

Banks policy as to when funds deposited into an account will beavailable for withdrawal

The balance of an account less any hold uncollected funds andrestrictions against the account

The difference between the credit limit assigned to a cardholder accountand the present balance of the account

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Balance Transfer

Bank Custodian

Bank Examination

Bank Statement

Banking Day

Bankrupt

Bankruptcy

Beneficiary

Billing Cycle

Billing Date

Billing Error

B

The process of moving an outstanding balance from one credit card toanother This is usually done to obtain a lower interest rate on the outstanding balanceTransfers are sometimes subjected to a Balance Transfer Fee

A bank custodian is responsible for maintaining the safety of clients assetsheld at one of the custodians premises a sub-custodian facility or an outside depository

Examination of a banks assets income and expenses-as well asoperations by representatives of Federal and State bank supervisory authority-to ensure thatthe bank is solvent and is operating in conformity with banking laws and sound bankingprinciples

Periodically the bank provides a statement of a customers depositaccount It shows all deposits made all checks paid and other debits posted during theperiod (usually one month) as well as the current balance

A business day during which an office of a bank is open to the public forsubstantially all of its banking functions

A bankrupt person firm or corporation has insufficient assets to cover their debtsThe debtor seeks relief through a court proceeding to work out a payment schedule or erasedebts In some cases the debtor must surrender control of all assets to a court-appointedtrustee

The legal proceedings by which the affairs of a bankrupt person are turnedover to a trustee or receiver for administration under the bankruptcy laws There are twotypes of bankruptcy

Involuntary bankruptcy-one or more creditors of an insolvent debtor file a petitionhaving the debtor declared bankrupt

Voluntary bankruptcy-the debtor files a petition claiming inability to meet financialobligations and willingness to be declared bankrupt

A person who is entitled to receive the benefits or proceeds of a will trustinsurance policy retirement plan annuity or other contract

The time interval between the dates on which regular periodic statements areissued

The month date and year when a periodic or monthly statement is generatedCalculations have been performed for appropriate finance charges minimum payment due

and new balance

A charge that appears on a periodic statement associated with an extension ofcredit (eg credit card) that

was not authorized by the cardholder or the cardholders designeeis not properly identified andwas not accepted by the cardholder or the cardholders designee

A billing error can also be caused by a creditors failure to credit a payment or other credit toan account as well as accounting and clerical errors





Bond US Savings

Business Day

Canceled Check

Cashiers Check

Cease and Desist Letter

Certificate of Deposit

Certificate of Release

Certified Check

Charge-off

Check

Check 21 Act

Check Truncation

Checking Account

Savings bonds are issued in face value denominations by the USGovernment in denominations ranging from $50 to $10000 They are typically long-term low-risk investment tools

Any day on which offices of a bank are open to the public for carrying onsubstantially all of the banks business

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C

A check that a bank has paid charged to the account holders accountand then endorsed Once canceled a check is no longer negotiable

A check drawn on the funds of the bank not against the funds in adepositors account However the depositor paid for the cashiers check with funds from theiraccount The primary benefit of a cashiers check is that the recipient of the check is assuredthat the funds are available

A letter requesting that a company stops the activity mentioned inthe letter

A negotiable instrument issued by a bank in exchange for fundsusually bearing interest deposited with the bank

A certificate signed by a lender indicating that a mortgage has beenfully paid and all debts satisfied

A personal check drawn by an individual that is certified (guaranteed) to begood The face of the check bears the words certified or accepted and is signed by anofficial of the bank or thrift institution issuing the check The signature signifies that

the signature of the drawer is genuine andsufficient funds are on deposit and earmarked for payment of the check

The balance on a credit obligation that a lender no longer expects to be repaidand writes off as a bad debt

A written order instructing a financial institution to pay immediately on demand aspecified amount of money from the check writers account to the person named on thecheck or if a specific person is not named to whoever bears the check to the institution forpayment

Check 21 is a Federal law that is designed to enable banks to handle morechecks electronically which is intended to make check processing faster and more efficientCheck 21 is the short name for the Check Clearing for the 21st Century Act which went intoeffect on October 28 2004

The conversion of data on a check into an electronic image after a checkenters the processing system Check truncation eliminates the need to return canceledchecks to customers

A demand deposit account subject to withdrawal of funds by check





ChexSystems

Closed-End Credit

Closed-End Loan

Closing a Mortgage Loan

Closing Costs

Collateral

Collected Funds

Collection Agency

Collection Items

Collective Investment Funds (CIFs)

Co-Maker

Community Reinvestment Act

The ChexSystems Inc network is comprised of member financial institutionsthat regularly contribute information on mishandled checking and savings accounts to acentral location ChexSystems shares this information among member institutions to helpthem assess the risk of opening new accounts

ChexSystems only shares information with the member institutions it does not decide onnew account openings Generally information remains on ChexSystems for five years

Generally any credit sale agreement in which the amount advancedplus any finance charges is expected to be repaid in full by a specified date Most real estate

and automobile loans are closed-end agreements

Generally any loan in which the amount advanced plus any financecharges is expected to be repaid in full by a specified date Most real estate and automobileloans are closed-end agreements

The consummation of a contractual real estate transaction inwhich all appropriate documents are signed and the proceeds of the mortgage loan are thendisbursed by the lender

The expenses incurred by sellers and buyers in transferring ownership inreal property The costs of closing may include the origination fee discount points attorneys

fees loan fees title search and insurance survey charge recordation fees and the creditreport charge

Assets that are offered to secure a loan or other credit For example if you get areal estate mortgage the banks collateral is typically your house Collateral becomes subjectto seizure on default

Cash deposits or checks that have been presented for payment and forwhich payment has been received

A company hired by a creditor to collect a debt that is owed Creditorstypically hire a collection agency only after they have made efforts to collect the debt

themselves usually through letters and telephone calls

Items-such as drafts notes and acceptances-received for collection andcredited to a depositors account after payment has been received Collection items areusually subject to special instructions and may involve additional fees Most banks impose aspecial fee called a collection charge for handling collection items

A Collective Investment Fund (CIF) is a trust createdand administered by a bank or trust company that commingles assets from multiple clientsThe Federal securities laws generally require entities that pool securities to register thosepooled vehicles (such as mutual funds) with the SEC However Congress createdexemptions from these registration requirements for CIFs so long as the entity offering these

funds is a bank or other authorized entity and so long as participation in the fund is restrictedto only those customers covered by the exemption If these limitations are met CIFs areexempt from SEC registration and reporting requirements

A person who signs a note to guarantee a loan made to another person and is jointly liable with the maker for repayment of the loan (Also known as a Co-signer)

The Act is intended to encourage depository institutions tohelp meet the credit needs of the communities in which they operate including low- andmoderate-income neighborhoods It was enacted by the Congress in 1977





Consumer Credit Counseling Service

Consumer Reporting Agency

Conventional Fixed Rate Mortgage

Co-Signer

Credit Application

Credit Bureau

Credit Card Account Agreement

Credit Card Issuer

Credit Disability Insurance

Credit Life Insurance

Credit Limit

Credit Repair Organization

Credit Report

A service which specializes in working withconsumers who are overextended with debts and need to make arrangements with creditors

An agency that regularly collects or evaluates individualconsumer credit information or other information about consumers and sells consumerreports for a fee to creditors or others Typical clients include banks mortgage lenders creditcard companies and other financing companies

A fixed-rate mortgage offers you a set interest rate and

payments that do not change throughout the life or term of the loanA conventional fixed-rate loan is fully paid off over a given number of years-usually 15 20or 30 A portion of each monthly payment goes towards paying back the money borrowedthe principal the rest is interest

An individual who signs the note of another person as support for the credit ofthe primary signer and who becomes responsible for the obligation (Also known as a Co-maker)

A form to be completed by an applicant for a credit account givingsufficient details (residence employment income and existing debt) to allow the seller toestablish the applicants creditworthiness Sometimes an application fee is charged to cover

the cost of loan processing

An agency that collects individual credit information and sells it for a fee tocreditors so they can make a decision on granting loans Typical clients include banksmortgage lenders credit card companies and other financing companies Also commonlyreferred to as a consumer reporting agency or a credit reporting agency

A written agreement that explains the

terms and conditions of the accountcredit usage and payment by the cardholder andduties and responsibilities of the card issuer

Any financial institution that issues bank cards to those who apply forthem

A type of insurance also known as accident and healthinsurance that makes payments on the loan if you become ill or injured and cannot work

A type of life insurance that helps repay a loan if you should diebefore the loan is fully repaid This is optional coverage

The maximum amount of credit that is available on a credit card or other line of

credit account

A person or organization that sells provides performs orassists in improving a consumers credit record credit history or credit rating (or says thatthat they will do so) in exchange for a fee or other payment It also includes a person ororganization that provides advice or assistance about how to improve a consumers creditrecord credit history or credit rating There are some important exceptions to this definitionincluding many non-profit organizations and the creditor that is owed the debt

A detailed report of an individuals credit history prepared by a credit bureauand used by a lender in determining a loan applicants creditworthiness





Credit Score

Cut-Off Time

Debit

Debit Card

Debt Collector

Debt Elimination Scheme

Debtor

Debt-to-Income Ratio (DTI)

Decedent

Deferred Payment

Delinquency

Demand Deposit

Deposit Slip

Derogatory Information

A number roughly between 300 and 800 that measures an individuals creditworthiness The most well-known type of credit score is the FICOreg score This scorerepresents the answer from a mathematical formula that assigns numerical values to variouspieces of information in your credit report

Banks use a credit score to help determine whether you qualify for a particular credit cardloan or service

A time of day established by a bank for receipt of deposits After the cut-offtime deposits are considered received on the next banking day

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D

A debit may be an account entry representing money you owe a lender or money thathas been taken from your deposit account

A debit card allows the account owner to access their funds electronically Debitcards may be used to obtain cash from automated teller machines or purchase goods or

services using point-of-sale systems The use of a debit card involves immediate debitingand crediting of consumers accounts

Any person who regularly collects debts owed to others

A debt elimination scheme is a plan that is advertised as a wayfor an individual to eliminate various types of debt simply by paying someone a small feecompared to the amount of debt to be eliminated These schemes are fraudulent

As a result of using a fraudulent scheme individuals will lose money could lose property willdamage their credit rating and possibly incur additional debt In addition a creditor may takelegal action against an individual to resolve a fraudulent attempt to eliminate debt It is alsopossible for the victim to have identify theft occur by participating in such a fraudulent

scheme

Someone who owes monies to another party

The percentage of a consumers monthly gross income thatgoes toward paying debts Generally the higher the ratio the higher the perceived riskLoans with higher risk are generally priced at a higher interest rate

A deceased person ordinarily used with respect to one who has died recently

A payment postponed until a future date

A debt that was not paid when due

A deposit of funds that can be withdrawn without any advance notice

An itemized memorandum of the cash and other funds that a customerpresents to the bank for credit to his or her account

Data received by a creditor indicating that a credit applicant hasnot paid his or her accounts with other creditors according to the required terms





Direct Deposit

Direct Dispute

Disclosures

Draft

Drawee

Drawee bank

Drawer

Electronic Banking

Electronic Check Conversion

Electronic Funds Transfer (EFT)

Embezzlement

Encoding

Enforcement Action

Equal Credit Opportunity Act (ECOA)

A payment that is electronically deposited into an individuals account at adepository institution

A dispute submitted directly to the furnisher about the accuracy ofinformation in your consumer report that relates to an account or other relationship you havewith the furnisher

Certain information that Federal and State laws require creditors to give toborrowers relative to the terms of the credit extended

A signed written order by which one party (the drawer) instructs another party (thedrawee) to pay a specified sum to a third party (the payee) at sight or at a specific dateTypical bank drafts are negotiable instruments and are similar in many ways to checks

The person (or bank) who is expected to pay a check or draft when it is presentedfor payment

The bank upon which a check is drawn

The person who writes a check or draft instructing the drawee to pay someone else

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E

A service that allows an account holder to obtain account informationand manage certain banking transactions through a personal computer via the financialinstitutions Web site on the Internet (This is also known as Internet or online banking)

Electronic check conversion is a process in which yourcheck is used as a source of information-for the check number your account number and

the number that identifies your financial institution The information is then used to make aone-time electronic payment from your account-an electronic fund transfer The check itself isnot the method of payment

The transfer of money between accounts by consumerelectronic systems-such as automated teller machines (ATMs) and electronic payment ofbills-rather than by check or cash (Wire transfers checks drafts and paper instruments donot fall into this category)

In most States embezzlement is defined as theftlarceny of assets (moneyor property) by a person in a position of trust or responsibility over those assetsEmbezzlement typically occurs in the employment and corporate settings

The process used to imprint or inscribe MICR characters on checks depositsand other financial instruments [Magnetic Ink Character Recognition (MICR) is a character-recognition technology adopted mainly by the banking industry to facilitate the processing ofchecks Each check in encoded at the bottom with the dollar amount of the check If thatinformation is entered incorrectly there is an encoding error]

A regulatory tool that the OCC may use to correct problems or effectchange in a national bank

Prohibits creditors from discriminating against credit





Error Resolution

Escheat

Escrow

Escrow Analysis

Escrow Funds

Estate Account

Exception Hold

Fair and Accurate Credit Transactions Act of 2003 (FACT Act or FACTA)

Fair Credit Reporting Act (FCRA)

Fair Debt Collection Practices Act (FDCPA)

Federal Deposit Insurance Corporation (FDIC)

applicants on the basis of race color religion national origin sex marital status age orbecause an applicant receives income from a public assistance program

The required process for resolving errors involving electronic transfers toand from deposit accounts

Reversion of real or personal property to the State when 1) a person dies withoutleaving a will and has no heirs or 2) when the property (such as a bank account) has beeninactive for a certain period of time

A financial instrument held by a third party on behalf of the other two parties in atransaction The funds are held by the escrow service until it receives the appropriate writtenor oral instructions-or until obligations have been fulfilled Securities funds and other assetscan be held in escrow

The periodic examination of escrow accounts by a mortgage company toverify that monthly deposits are sufficient to pay taxes insurance and other escrow-relateditems on when due

Funds held in reserve by a mortgage company to pay taxes insurance andother mortgage-related items when due

An account held in the name of a decedent that is administered by anexecutor or administrator of the estate

A period of time that allows the banks to exceed the maximum hold periodsdefined in the Expedited Funds Availability Act

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F

The purpose ofthis Act is to help consumers protect their credit identities and recover from identity theft

One of the key provisions of this Act is that consumers can request and obtain a free creditreport once every 12 months from each of the three nationwide consumer credit reportingcompanies (Equifax Experian and TransUnion) AnnualCreditReportcom providesconsumers with the secure means to request their free credit report

A Federal law established in 1971 and revised in 1997that gives consumers the right to see their credit records and correct any mistakes

The FCRA regulates consumer credit reporting and related industries to ensure thatconsumer information is reported in an accurate timely and complete manner The Act wasamended to address the sharing of consumer information with affiliates

The Fair Debt Collection Practices Act is aset of United States statutes added as Title VIII of the Consumer Credit Protection Act Itspurpose is to ensure ethical practices in the collection of consumer debts and to provideconsumers with an avenue for disputing and obtaining validation of debt information in orderto ensure the informations accuracy It is often used in conjunction with the Fair CreditReporting Act

A government corporation that insures thedeposits of all national and State banks that are members of the Federal Reserve System





Federal Emergency Management Agency (FEMA)

Federal Reserve System

Fiduciary

Finance Charge

Financial Regulatory Agency

First Mortgage

Fixed Rate Loan

Fixed Rate Mortgage

Float

Flood Insurance

Flood Plain

Federal agency responsible for theemergency evaluation and response to all disasters natural and man-made FEMA overseesthe administration of flood insurance programs and the designation of certain areas as floodprone

The central bank of the United States The Fed as it iscommonly called regulates the US monetary and financial system The Federal ReserveSystem is composed of a central governmental agency in Washington DC (the Board ofGovernors) and twelve regional Federal Reserve Banks in major cities throughout the United

States

You can divide the Federal Reserves duties into four general areas

Conducting monetary policyRegulating banking institutions and protecting the credit rights of consumersMaintaining the stability of the financial systemProviding financial services to the US government

Undertaking to act as executor administrator guardian conservator or trustee fora family trust authorized trust or testamentary trust or receiver or trustee in bankruptcy

The total cost of credit a customer must pay on a consumer loan includinginterest The Truth in Lending Act requires disclosure of the finance charge

An organization authorized by statute for ensuring the safeand sound operation of financial institutions chartered to conduct business under thatagencys jurisdiction

The primary regulators are the following

OCC (Office of the Comptroller of the Currency)FDIC (Federal Deposit Insurance Corporation)FRB (Federal Reserve Board)NCUA (National Credit Union Administration)

State regulatory agencies

A real estate loan which is in a first lien position taking priority over allother liens In case of a foreclosure the first mortgage will be repaid before any othermortgages

The interest rate and the payment remain the same over the life of theloan The consumer makes equal monthly payments of principal and interest until the debt ispaid in full

A mortgage with payments that remain the same throughout the life

of the loan because the interest rate and other terms are fixed and do not change

1) The amount of uncollected funds represented by checks in the possession of onebank but drawn on other banks 2) The time that elapses between the day a check isdeposited and the day it is presented for payment to the financial institution on which it isdrawn

Flood insurance protects against water from an overflowing river or ahurricanes tidal surge and also covers damage from water that builds up during storms

A strip of relatively flat and normally dry land alongside a stream river or lakethat is covered by water during a flood





Foreclosure

Foreign Transaction Fees

Forged Check

Forgery

Fraud Alert

Freedom of Information Act (FOIA)

Frozen Account

Furnisher

GarnishmentGarnish

Guaranteed Student Loan

Guarantor

A legal process in which property that is collateral or security for a loan maybe sold to help repay the loan when the loan is in default

A fee assessed by your bank for making a transaction atanother banks ATM

A check on which the drawers signature has been forged

The fraudulent signing or alteration of anothers name to an instrument such as adeed mortgage or check The intent of the forgery is to deceive or defraud

A key provision of the Fair and Accurate Credit Transactions Act of 2003 is theconsumers ability to place a fraud alert on their credit record A consumer would use thisoption if they believe they were a victim of identity theft

The alert requires any creditor that is asked to extend credit to contact the consumer byphone and verify that the credit application was not made by an identity thief

A Federal law that mandates that all the recordscreated and kept by Federal agencies in the executive branch of government must be openfor public inspection and copying The only exceptions are those records that fall into one ofnine exempted categories listed in the statute

An account on which funds may not be withdrawn until a lien is satisfiedand a court order or other legal process makes the account available for withdrawal (eg theaccount of a deceased person is frozen pending a court order distributing the funds to thenew lawful owners)

An account may also be frozen when there is a dispute regarding the true ownership of anaccount The bank will freeze the account to preserve the existing funds until legal action candetermine the lawful owner

An entity that provides information about a consumer to a consumer reporting

agency for inclusion in a consumer report

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G

A legal process that allows a creditor to remove funds from yourbank account to satisfy a debt that you have not paid If you owe money to a person orcompany they can obtain a court order directing your bank to take money out of youraccount to pay off your debt

An extension of credit from a financial institution that isguaranteed by a Federal or State government entity to assist with tuition and othereducational expenses The government entity is responsible for paying the interest on theloan and paying the lender to manage it The government entity also is responsible for theloan if the student defaults

A party who agrees to be responsible for the payment of another partys debtsshould that party default

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Hold

Home Equity Line of Credit (HELOC)

Home Equity Loan

Inactive Account

Index-linked Certificate of Deposit

Individual Account

Individual Retirement Account (IRA)

Insufficient Funds

Insurance (Hazard)

Insured Deposits

H

Used to indicate that a certain amount of a customers balance may not be withdrawnuntil an item has been collected or until a specific check or debit is posted

A line of credit secured by the equity in aconsumers home It can be used for home improvements debt consolidation and othermajor purchases Interest paid on the loan is generally tax deductible (consult a tax advisor

to be sure) The funds may be accessed by writing checks against the line of credit or bygetting a cash advance

A home equity loan allows you to tap into your homes built-up equitywhich is the difference between the amount that your home could be sold for and theamount that you still owe

Homeowners often use a home-equity loan for home improvements to pay for a new car orto finance their childs college education The interest paid is usually tax-deductible

Because the loan is secured by your homes equity if you default the bank may foreclose onyour house and take ownership of it

This type of loan is sometimes referred to as a second mortgage or borrowing against yourhome

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I

An account that has little or no activity neither deposits nor withdrawalshaving been posted to the account for a significant period of time

An index-linked CD is a deposit obligation of theissuing bank and is often sold through bank branches and affiliated and unaffiliated brokersIndex-linked CDs provide the investor the ability to participate in the appreciation if any of aparticular index during the term of the CD Index-linked CDs may have complicated payoutstructures and may not be suitable or appropriate for all investors Investors should carefullyreview the investment risk considerations detailed in the relevant offering documents anddisclosure statements Index-linked CDs are not securities and are not registered undersecurities laws

An account in the name of one individual

A retirement savings program for individuals to whichyearly tax-deductible contributions up to a specified limit can be made The amountcontributed is not taxed until withdrawn Withdrawal is not permitted without penalty until theindividual reaches age 59 12

When a depositors checking account balance is inadequate to pay acheck presented for payment

Insurance to protect the homeowner and the lender against physicaldamage to a property from sources such as but not limited to fire wind or vandalism

Deposits held in financial institutions that are guaranteed by the FederalDeposit Insurance Corporation (FDIC) against loss due to bank failure





Interest

Interest Rate

Interest Rate Index

Joint Account

Kiting

Late Charge

Lease

Lender

Lien

Line of Credit

Loan-to-Value Ratio (LTV)

The term interest is used to describe the cost of using money a right share or titlein property

The amount paid by a borrower to a lender in exchange for the use of thelenders money for a certain period of time Interest is paid on loans or on debt instrumentssuch as notes or bonds either at regular intervals or as part of a lump sum payment whenthe issue matures

IA table of yields or interest rates being paid on debt that is used to

determine interest-rate changes for adjustable-rate mortgages and other variable-rate loans

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J

An account owned by two or more persons Either party can conducttransactions separately or together as set forth in the deposit account contract

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K

Writing a check in an amount that will overdraw the account but making up thedeficiency by depositing another check on another bank For example mailing a check forthe mortgage when your checking account has insufficient funds to cover the check butcounting on receiving and depositing your paycheck before the mortgage company presentsthe check for payment

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L

The fee charged for delinquent payment on an installment loan usuallyexpressed as a percentage of the loan balance or payment Also a penalty imposed by acard issuer against a cardholders account for failing to make minimum payments

A contract transferring the use of property or occupancy of land space structures orequipment in consideration of a payment (eg rent)

An individual or financial institution that lends money with the expectation that the

money will be returned with interest

Legal claim against a property Once the property is sold the lien holder is then paidthe amount that is owed

A pre-approved loan authorization with a specific borrowing limit based oncreditworthiness A line of credit allows borrowers to obtain a number of loans without re-applying each time as long as the total of borrowed funds does not exceed the credit limit

The ratio of the loan principal (amount borrowed) to theappraised value (selling price) For example on a $100000 home with a mortgage loan





Loan Contract

Loan Fee

Loan Modification Provision

Loan Proceeds

Local Check

Manufactured (mobile) home

Maturity

Media

Minimum Balance

Minimum Payment

Missing Payment

Mobile home

Money Market Deposit Account

principal of $80000 the loan-to-value ratio is 80 percent The LTV will affect programsavailable to the borrower generally the lower the LTV the more favorable the programterms offered by lenders

The written agreement between a borrower and a lender in which the termsand conditions of the loan are set

A fee charged by a lender to make a loan (in addition to the interest charged tothe borrower)

A contractual agreement in a loan that allows the borrower orlender to permanently change one or more of the terms of the original contract

The net amount of funds that a lending institution disburses under the termsof a loan and which the borrower then owes

A check payable by at or through a bank in the same check processingregion as the location of the branch of the depository bank The depository bank is the bankinto which the check was deposited As of February 27 2010 the Federal Reserveconsolidated its checking processing centers into one processing center Therefore all checksare now considered local

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M

A structure built on a permanent chassis transported to asite in one or more sections and affixed to a permanent foundation The term does notinclude recreational vehicles

The date on which the principal balance of a loan bond or other financial

instrument becomes due and payable

Any organization in the business of informing the public with news or commentaryThe various forms of media include print television internet and radio

The amount of money required to be on deposit in an account to qualifythe depositor for special services or to waive a service charge

The minimum dollar amount that must be paid each month on a loanline of credit or other debt

A payment that has been made but not credited to the appropriateaccount

To be eligible for coverage under the National Flood Insurance Program amobile home must be on a permanent foundation and meet specific anchoring requirementsfor it location See manufactured (mobile) home

A savings account that offers a higher rate of interest inexchange for larger than normal deposits Insured by the FDIC these accounts have limitson the number of transactions allowed and may require higher balances to receive the higherrate of interest





Money Market Fund

Mortgage

Mortgage Loan

Mortgagee

Mortgagor

Mutual Fund

National Bank

National Bank Examiner

National Credit Union Administration (NCUA)

National Flood Insurance Program (NFIP)

Negotiable Order of Withdrawal Account (NOW)

Not Automatically Protected

An open-ended mutual fund that invests in short-term debts andmonetary instruments such as Treasury bills and pays money market rates of interest Moneymarket funds usually offer checkwriting privileges They are not insured by the FDIC

A debt instrument used in a real estate transaction where the property is thecollateral for the loan A mortgage gives the lender a right to take possession of the propertyif the borrower fails to pay off the loan

A loan made by a lender to a borrower for the financing of real property

The lender in a mortgage loan relationship

The borrower in a mortgage loan relationship (Property is used as collateral tomake payment)

A fund operated by an investment company that raises money fromshareholders and invests it in stocks bonds options commodities or money marketsecurities These funds offer investors the advantages of diversification and professionalmanagement To participate the investor may pay fees and expenses (Mutual funds are notcovered by FDIC insurance)

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N

A bank that is subject to the supervision of the Comptroller of the CurrencyThe Office of the Comptroller of the Currency is a bureau of the US Treasury Department Anational bank can be recognized because it must have national or national association inits name

An employee of the Comptroller of the Currency whose function is

to examine national banks periodically to determine the financial position of a bank and thesecurity of its deposits The examiner also verifies that the bank maintains proceduresconsistent with Federal banking laws and regulations

The Federal regulatory agency that chartersand supervises Federal credit unions (NCUA also administers the National Credit UnionShare Insurance Fund which insures the deposits of Federal credit unions)

The program of flood insurance coverage andfloodplain management administered under the Flood Disaster Protection Act (FDPA or Act)and applicable Federal regulations found in Title 44 of the Code of Federal RegulationsSubchapter B

A savings account from whichwithdrawals can be made by negotiable orders of withdrawal (functional equivalent of checks)This is an interest-bearing account for which the bank must reserve the right to require thedepositor to provide at least seven days notice of hisher intent to withdraw funds

There are several types of Federal benefits that are notautomatically protected under 31CFR 212 Federal benefits received by check rather thandirect deposit Federal benefits received more than two months before the bank received thegarnishment order or Federal benefits that were transferred to another bank account Thebenefits may be exempt from garnishment but you will have to alert the court or creditor





Official Check

Offset Right of

Online Banking

Open-End Credit

Operating Subsidiary

Outstanding Check

Overdraft

Overdraw

Overlimit

Participating Community

Passbook

Past Due Item

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O

A check drawn on a bank and signed by an authorized bank official (Alsoknown as a cashiers check)

Banks legal right to seize funds that a guarantor or debtor may have ondeposit to cover a loan in default It is also known as right of setoff

A service that allows an account holder to obtain account information andmanage certain banking transactions through a personal computer via the financialinstitutions web site on the Internet (This is also known as Internet or electronic banking)

A credit agreement (typically a credit card) that allows a customer toborrow against a preapproved credit line when purchasing goods and services The borroweris only billed for the amount that is actually borrowed plus any interest due (Also called acharge account or revolving credit)

National banks conduct some of their banking activities throughcompanies called operating subsidiaries These subsidiaries are companies that are owned orcontrolled by a national bank and that among other things offer banking products andservices such as loans mortgages and leases

The Office of the Comptroller of the Currency supervises and regulates the activities of manyof these operating subsidiaries

A check written by a depositor that has not yet been presented forpayment to or paid by the depositors bank

When the amount of money withdrawn from a bank account is greater than theamount actually available in the account the excess is known as an overdraft and the

account is said to be overdrawn

To write a check for an amount that exceeds the amount on deposit in theaccount

An open-end credit account in which the assigned dollar limit has been exceeded

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P

A community for which the Federal Emergency ManagementAgency (FEMA) has authorized the sale of flood insurance under the National FloodInsurance Program (NFIP)

A book in ledger form in which are recorded all deposits withdrawals andearnings of a customers savings account

Any note or other time instrument of indebtedness that has not been paidon the due date





Payday Loans

Payee

Paying (Payor) Bank

Payment Due Date

Payoff

Payoff Statement

Payor

Periodic Rate

Periodic Statement

Personal Identification Number (PIN)

PITI

Point of Sale (POS)

Power of Attorney

Preauthorized Electronic Fund Transfers

Preauthorized Payment

Preferred Risk Policy (PRP)

A small-dollar short-term loan that a borrower promises to repay out of theirnext paycheck or deposit of funds

The person or organization to whom a check draft or note is made payable

A bank upon which a check is drawn and that pays a check or otherdraft

The date on which a loan or installment payment is due It is set by a

financial institution Any payment received after this date is considered late fees andpenalties can be assessed

The complete repayment of a loan including principal interest and any otheramounts due Payoff occurs either over the full term of the loan or through prepayments

A formal statement prepared when a loan payoff is contemplated Itshows the current status of the loan account all sums due and the daily rate of interest

The person or organization who pays

The interest rate described in relation to a specific amount of time Themonthly periodic rate for example is the cost of credit per month the daily periodic rate isthe cost of credit per day

The billing summary produced and mailed at specified intervals usuallymonthly

Generally a four-character number or word the PINis the secret code given to credit or debit cardholders enabling them to access theiraccounts The code is either randomly assigned by the bank or selected by the customer Itis intended to prevent unauthorized use of the card while accessing a financial serviceterminal

Common acronym for principal interest taxes and insurancemdashused when describingthe monthly charges on a mortgage

1) The location at which a transaction takes place 2) Systems thatallow bank customers to effect transfers of funds from their deposit accounts and otherfinancial transactions at retail establishments

A written instrument which authorizes one person to act as anothersagent or attorney The power of attorney may be for a definite specific act or it may begeneral in nature The terms of the written power of attorney may specify when it will expireIf not the power of attorney usually expires when the person granting it dies

Some institutions require that you use the banks power of attorney forms (The bank mayrefer to this as a Durable Power of Attorney The principal grants specific rights to the agent)

An EFT authorized in advance to recur atsubstantially regular intervals

A system established by a written agreement under which afinancial institution is authorized by the customer to debit the customers account in order topay bills or make loan payments

A policy that offers fixed combinations of buildingcontents





Prepayment

Prepayment Clause

Prepayment Penalty

Previous Balance

Principal Balance

Private Mortgage Insurance (PMI)

Real Estate Settlement Procedures Act (RESPA)

Reconciliation

Redlining

Refinancing

Refund

Regular Program Community

coverage or contents-only coverage at modest fixed premiums The PRP generally isavailable for property located in B C and X Zones in Regular Program Communities thatmeets eligibility requirements based on the propertyrsquos flood loss history

The payment of a debt before it actually becomes due

A clause in a mortgage allowing the mortgagor to pay off part or all ofthe unpaid debt before it becomes due

A penalty imposed on a borrower for repaying the loan before its duedate (In the case of a mortgage this applies when there is not a prepayment clause in themortgage note to offset the penalty)

The cardholders account balance as of the previous billing statement

The outstanding balance on a loan excluding interest and fees

Insurance offered by a private insurance company thatprotects the bank against loss on a defaulted mortgage up to the limit of the policy (usually20 to 25 percent of the loan amount) PMI is usually limited to loans with a high loan-to-value (LTV) ratio The borrower pays the premium

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R

Federal law that among other thingsrequires lenders to provide good faith estimates of settlement costs and make otherdisclosures regarding the mortgage loan RESPA also limits the amount of funds held inescrow for real estate taxes and insurance

The process of analyzing two related records and if differences existbetween them finding the cause and bringing the two records into agreement ExampleComparing an up-to-date check book with a monthly statement from the financial institutionholding the account

The alleged practice of certain lending institutions of not making mortgage home

improvement and small business loans in certain neighborhoods-usually areas that aredeteriorating or considered by the lender to be poor investments

A way of obtaining a better interest rate lower monthly payments or borrowcash on the equity in a property that has built up on a loan A second loan is taken out topay off the first higher-rate loan

An amount paid back because of an overpayment or because of the return of anitem previously sold

A community wherein a Flood Insurance Rate Map is ineffect and full limits of coverage are available under the Flood Disaster Protection Act (FDPA





Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission

Safe (or Safety) Deposit Box

Safekeeping

Satisfaction of Mortgage

Service Charge

Signature Card

or Act)

To free a piece of real estate from a mortgage

A form of extending an unpaid loan in which the borrowers remaining unpaid loanbalance is carried over (renewed) into a new loan at the beginning of the next financingperiod

Interest that continues to accrue on your credit card balance from the

statement cycle date until the bank receives your paymentFor example if your statement cycle date was January 10 and the bank received yourpayment on January 20 there were ten days for which interest accrued This amount will beposted on your next statement

A negotiable instrumentmdashprincipally a checkmdashthat has been sent to one bankfor collection and payment and is returned unpaid by the sending bank

A reverse mortgage is a special home loan product that allows ahomeowner aged 62 or older the ability to access the equity that has accumulated in theirhome The home itself will be the source of repayment The loan is underwritten based onthe value of the collateral (home) and the life expectancy of the borrower The loan must be

repaid when you die sell your home or no longer live there as your principal residence

A credit agreement (typically a credit card) that allows a customer toborrow against a preapproved credit line when purchasing goods and services The borroweris only billed for the amount that is actually borrowed plus any interest due (Also called acharge account or open-end credit)

Banks legal right to seize funds that a guarantor or debtor may have ondeposit to cover a loan in default It is also known as the right of set-off

Right to cancel within three business days a contract that uses thehome of a person as collateral except in the case of a first mortgage loan There is no fee tothe borrower who receives a full refund of all fees paid The right of rescission is guaranteedby the Truth in Lending Act (TILA)

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S

A type of safe usually located in groups inside a bank vaultand rented to customers for their use in storing valuable items

A service provided by banks where securities and valuables are protected inthe vaults of the bank for customers

A document issued by a mortgagee (the lender) when amortgage is paid in full

A charge assessed by a depository institution for processing transactionsand maintaining accounts

A card signed by each depositor and customer of a bank which may beused as a means of identification The signature card represents a contract between the





Special Flood Hazard Area (SFHA)

Stale-Dated Check

State Bank

State Banking Department

Statement

Stop Payment

Student Loan

Substitute Check

Terms

Time Certificate of Deposit

Time Deposit

Trust Account

bank and the depositor

An area defined on a Flood Insurance Rate Map withan associated risk of flooding

Presented to the paying bank 180 days (6 months) or more after theoriginal issue date Banks are not required by the Uniform Commercial Code to honor stale-dated checks and can return them to the issuing bank unpaid The maker of a check candiscourage late presentment by writing the words not good after X days on the back of the

check

A bank that is organized under the laws of a State and chartered by that Stateto conduct the business of banking

The organization in each State that supervises the operationsand affairs of State banks

A summary of all transactions that occurred over the preceding month and couldbe associated with a deposit account or a credit card account

An order not to pay a check that has been issued but not yet cashed If

requested soon enough the check will not be debited from the payers account Most bankscharge a fee for this service

Loans made insured or guaranteed under any program authorized by theHigher Education Act Loan funds are used by the borrower for education purposes

A substitute check is a paper copy of the front and back of the originalcheck A substitute check is slightly larger than a standard personal check so that it cancontain a picture of your original check

A substitute check is legally the same as the original check if it accurately represents theinformation on the original check and includes the following statement This is a legal copyof your check You can use it the same way you would use the original check The substitutecheck must also have been handled by a bank

Substitute checks were created under Check 21 the Check Clearing for the 21st CenturyAct which became effective on October 28 2004

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T

The period of time and the interest rate arranged between creditor and debtor torepay a loan

A time deposit evidenced by a negotiable or nonnegotiableinstrument specifying an amount and maturity

A time deposit (also known as a term deposit) is a money deposit at a bankthat cannot be withdrawn for a certain term or period of time When the term is over it canbe withdrawn or it can be held for another term The longer the term the better the yield onthe money Generally there are significant penalties for early withdrawal

A general term that covers all types of accounts in a trust department suchas estates guardianships and agencies





Trust Administrator

Truth in Lending Act (TILA)

Uncollected Funds

Uniform Commercial Code (UCC)

Uniform Gift to Minors Account

Usury

Usury Rates

Variable Rate

Wire Transfer

A person or institution that manages trust accounts

The Truth in Lending Act is a Federal law that requireslenders to provide standardized information so that borrowers can compare loan terms Ingeneral lenders must provide information on

what credit will cost the borrowerswhen charges will be imposed andwhat the borrowers rights are as a consumer

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U

A portion of a deposit balance that has not yet been collected by thedepository bank

A set of statutes enacted by the various States to

provide consistency among the States commercial laws It includes negotiable instrumentssales stock transfers trust and warehouse receipts and bills of lading

A UGMA provides a child under the age of 18 (a minor)with a way to own investments The money is in the minors name but the custodian (usuallythe parent) has the responsibility to handle the money in a prudent manner for the minorsbenefit The parent cannot withdraw the money to use for his or her own needs

Charging an illegally high interest rate on a loan

The maximum rate of interest lenders may charge borrowers The usury rateis generally set by State law

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Any interest rate or dividend that changes on a periodic basis

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A transfer of funds from one point to another by wire or network such theFederal Reserve Wire Network (also known as FedWire)

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X




httpwww helpwithmybank govdictionaryindex dictionary html[11172011 33323 PM]

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Y

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Z





Annual Percentage Yield (APY)

Annuity

Application

Appraisal

Authorization

Automated Clearing House (ACH)

Automated Teller Machine (ATM)

Automatically Protected

Automatic Bill Payment

Availability Date

Availability Policy

Available Balance

Available Credit

percentage

A percentage rate reflecting the total amount of interestpaid on a deposit account based on the interest rate and the frequency of compounding for a365-day year

A life insurance contract sold by insurance companies brokers and other financialinstitutions It is usually sold as a retirement investment An annuity is a long-term investmentand can have steep surrender charges and penalties for withdrawal before the annuitys

maturity date (Annuities are not FDIC insured)

Under the Equal Credit Opportunity Act (ECOA) an oral or written request foran extension of credit that is made in accordance with the procedures established by acreditor for the type of credit requested

The act of evaluating and setting the value of a specific piece of personal or realproperty

The issuance of approval by a credit card issuer merchant or other affiliateto complete a credit card transaction

A computerized facility used by member depositoryinstitutions to electronically combine sort and distribute inter-bank credits and debits ACHsprocess electronic transfers of government securities and provided customer services suchas direct deposit of customers salaries and government benefit payments (ie socialsecurity welfare and veterans entitlements) and preauthorized transfers

A machine activated by a magnetically encoded card orother medium that can process a variety of banking transactions These include acceptingdeposits and loan payments providing withdrawals and transferring funds between accounts

As of May 1 2011 up to two months of Federal benefits such asSocial Security benefits Supplemental Security Income benefits Veteranrsquos benefits Railroad

Retirement benefits and benefits from the Office of Personnel Management that are directdeposited to an account may be protected from garnishment The amount automaticallyprotected will depend upon the balance of the account on the day of review

A checkless system for paying recurring bills with oneauthorization statement to a financial institution For example the customer would only haveto provide one authorization formletterdocument to pay the cable bill each month Thenecessary debits and credits are made through an Automated Clearing House (ACH)

Banks policy as to when funds deposited into an account will be availablefor withdrawal

Banks policy as to when funds deposited into an account will beavailable for withdrawal

The balance of an account less any hold uncollected funds andrestrictions against the account

The difference between the credit limit assigned to a cardholder accountand the present balance of the account

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Balance Transfer

Bank Custodian

Bank Examination

Bank Statement

Banking Day

Bankrupt

Bankruptcy

Beneficiary

Billing Cycle

Billing Date

Billing Error

B













and new balance








Bond US Savings

Business Day

Canceled Check

Cashiers Check




Certified Check

Charge-off

Check

Check 21 Act

Check Truncation

Checking Account



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C

















ChexSystems

Closed-End Credit

Closed-End Loan


Closing Costs

Collateral

Collected Funds

Collection Agency

Collection Items


Co-Maker


























Co-Signer

Credit Application

Credit Bureau


Credit Card Issuer



Credit Limit


Credit Report















credit account







Credit Score

Cut-Off Time

Debit

Debit Card

Debt Collector


Debtor


Decedent

Deferred Payment

Delinquency

Demand Deposit

Deposit Slip





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D







scheme













Direct Deposit

Direct Dispute

Disclosures

Draft

Drawee

Drawee bank

Drawer

Electronic Banking



Embezzlement

Encoding

Enforcement Action









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E













Error Resolution

Escheat

Escrow

Escrow Analysis

Escrow Funds

Estate Account

Exception Hold













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F













Fiduciary

Finance Charge


First Mortgage

Fixed Rate Loan

Fixed Rate Mortgage

Float

Flood Insurance

Flood Plain



States




















Foreclosure


Forged Check

Forgery

Fraud Alert


Frozen Account

Furnisher

GarnishmentGarnish


Guarantor












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G




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Hold


Home Equity Loan

Inactive Account


Individual Account


Insufficient Funds

Insurance (Hazard)

Insured Deposits

H








^ Back to Top ^

I












Interest

Interest Rate

Interest Rate Index

Joint Account

Kiting

Late Charge

Lease

Lender

Lien

Line of Credit






^ Back to Top ^

J


^ Back to Top ^

K


^ Back to Top ^

L












Loan Contract

Loan Fee


Loan Proceeds

Local Check


Maturity

Media

Minimum Balance

Minimum Payment

Missing Payment

Mobile home








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M














Money Market Fund

Mortgage

Mortgage Loan

Mortgagee

Mortgagor

Mutual Fund

National Bank












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N












Official Check

Offset Right of

Online Banking

Open-End Credit


Outstanding Check

Overdraft

Overdraw

Overlimit


Passbook

Past Due Item

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O












^ Back to Top ^

P








Payday Loans

Payee

Paying (Payor) Bank

Payment Due Date

Payoff

Payoff Statement

Payor

Periodic Rate

Periodic Statement


PITI

Point of Sale (POS)

Power of Attorney


























Prepayment

Prepayment Clause

Prepayment Penalty

Previous Balance

Principal Balance



Reconciliation

Redlining

Refinancing

Refund









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Q

^ Back to Top ^

R












Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











^ Back to Top ^

S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





Balance Transfer

Bank Custodian

Bank Examination

Bank Statement

Banking Day

Bankrupt

Bankruptcy

Beneficiary

Billing Cycle

Billing Date

Billing Error

B













and new balance








Bond US Savings

Business Day

Canceled Check

Cashiers Check




Certified Check

Charge-off

Check

Check 21 Act

Check Truncation

Checking Account



^ Back to Top ^

C

















ChexSystems

Closed-End Credit

Closed-End Loan


Closing Costs

Collateral

Collected Funds

Collection Agency

Collection Items


Co-Maker


























Co-Signer

Credit Application

Credit Bureau


Credit Card Issuer



Credit Limit


Credit Report















credit account







Credit Score

Cut-Off Time

Debit

Debit Card

Debt Collector


Debtor


Decedent

Deferred Payment

Delinquency

Demand Deposit

Deposit Slip





^ Back to Top ^

D







scheme













Direct Deposit

Direct Dispute

Disclosures

Draft

Drawee

Drawee bank

Drawer

Electronic Banking



Embezzlement

Encoding

Enforcement Action









^ Back to Top ^

E













Error Resolution

Escheat

Escrow

Escrow Analysis

Escrow Funds

Estate Account

Exception Hold













^ Back to Top ^

F













Fiduciary

Finance Charge


First Mortgage

Fixed Rate Loan

Fixed Rate Mortgage

Float

Flood Insurance

Flood Plain



States




















Foreclosure


Forged Check

Forgery

Fraud Alert


Frozen Account

Furnisher

GarnishmentGarnish


Guarantor












^ Back to Top ^

G




^ Back to Top ^





Hold


Home Equity Loan

Inactive Account


Individual Account


Insufficient Funds

Insurance (Hazard)

Insured Deposits

H








^ Back to Top ^

I












Interest

Interest Rate

Interest Rate Index

Joint Account

Kiting

Late Charge

Lease

Lender

Lien

Line of Credit






^ Back to Top ^

J


^ Back to Top ^

K


^ Back to Top ^

L












Loan Contract

Loan Fee


Loan Proceeds

Local Check


Maturity

Media

Minimum Balance

Minimum Payment

Missing Payment

Mobile home








^ Back to Top ^

M














Money Market Fund

Mortgage

Mortgage Loan

Mortgagee

Mortgagor

Mutual Fund

National Bank












^ Back to Top ^

N












Official Check

Offset Right of

Online Banking

Open-End Credit


Outstanding Check

Overdraft

Overdraw

Overlimit


Passbook

Past Due Item

^ Back to Top ^

O












^ Back to Top ^

P








Payday Loans

Payee

Paying (Payor) Bank

Payment Due Date

Payoff

Payoff Statement

Payor

Periodic Rate

Periodic Statement


PITI

Point of Sale (POS)

Power of Attorney


























Prepayment

Prepayment Clause

Prepayment Penalty

Previous Balance

Principal Balance



Reconciliation

Redlining

Refinancing

Refund









^ Back to Top ^

Q

^ Back to Top ^

R












Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











^ Back to Top ^

S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





Bond US Savings

Business Day

Canceled Check

Cashiers Check




Certified Check

Charge-off

Check

Check 21 Act

Check Truncation

Checking Account



^ Back to Top ^

C

















ChexSystems

Closed-End Credit

Closed-End Loan


Closing Costs

Collateral

Collected Funds

Collection Agency

Collection Items


Co-Maker


























Co-Signer

Credit Application

Credit Bureau


Credit Card Issuer



Credit Limit


Credit Report















credit account







Credit Score

Cut-Off Time

Debit

Debit Card

Debt Collector


Debtor


Decedent

Deferred Payment

Delinquency

Demand Deposit

Deposit Slip





^ Back to Top ^

D







scheme













Direct Deposit

Direct Dispute

Disclosures

Draft

Drawee

Drawee bank

Drawer

Electronic Banking



Embezzlement

Encoding

Enforcement Action









^ Back to Top ^

E













Error Resolution

Escheat

Escrow

Escrow Analysis

Escrow Funds

Estate Account

Exception Hold













^ Back to Top ^

F













Fiduciary

Finance Charge


First Mortgage

Fixed Rate Loan

Fixed Rate Mortgage

Float

Flood Insurance

Flood Plain



States




















Foreclosure


Forged Check

Forgery

Fraud Alert


Frozen Account

Furnisher

GarnishmentGarnish


Guarantor












^ Back to Top ^

G




^ Back to Top ^





Hold


Home Equity Loan

Inactive Account


Individual Account


Insufficient Funds

Insurance (Hazard)

Insured Deposits

H








^ Back to Top ^

I












Interest

Interest Rate

Interest Rate Index

Joint Account

Kiting

Late Charge

Lease

Lender

Lien

Line of Credit






^ Back to Top ^

J


^ Back to Top ^

K


^ Back to Top ^

L












Loan Contract

Loan Fee


Loan Proceeds

Local Check


Maturity

Media

Minimum Balance

Minimum Payment

Missing Payment

Mobile home








^ Back to Top ^

M














Money Market Fund

Mortgage

Mortgage Loan

Mortgagee

Mortgagor

Mutual Fund

National Bank












^ Back to Top ^

N












Official Check

Offset Right of

Online Banking

Open-End Credit


Outstanding Check

Overdraft

Overdraw

Overlimit


Passbook

Past Due Item

^ Back to Top ^

O












^ Back to Top ^

P








Payday Loans

Payee

Paying (Payor) Bank

Payment Due Date

Payoff

Payoff Statement

Payor

Periodic Rate

Periodic Statement


PITI

Point of Sale (POS)

Power of Attorney


























Prepayment

Prepayment Clause

Prepayment Penalty

Previous Balance

Principal Balance



Reconciliation

Redlining

Refinancing

Refund









^ Back to Top ^

Q

^ Back to Top ^

R












Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











^ Back to Top ^

S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





ChexSystems

Closed-End Credit

Closed-End Loan


Closing Costs

Collateral

Collected Funds

Collection Agency

Collection Items


Co-Maker


























Co-Signer

Credit Application

Credit Bureau


Credit Card Issuer



Credit Limit


Credit Report















credit account







Credit Score

Cut-Off Time

Debit

Debit Card

Debt Collector


Debtor


Decedent

Deferred Payment

Delinquency

Demand Deposit

Deposit Slip





^ Back to Top ^

D







scheme













Direct Deposit

Direct Dispute

Disclosures

Draft

Drawee

Drawee bank

Drawer

Electronic Banking



Embezzlement

Encoding

Enforcement Action









^ Back to Top ^

E













Error Resolution

Escheat

Escrow

Escrow Analysis

Escrow Funds

Estate Account

Exception Hold













^ Back to Top ^

F













Fiduciary

Finance Charge


First Mortgage

Fixed Rate Loan

Fixed Rate Mortgage

Float

Flood Insurance

Flood Plain



States




















Foreclosure


Forged Check

Forgery

Fraud Alert


Frozen Account

Furnisher

GarnishmentGarnish


Guarantor












^ Back to Top ^

G




^ Back to Top ^





Hold


Home Equity Loan

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Credit Bureau


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Disclosures

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Error Resolution

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Frozen Account

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Credit Score

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Frozen Account

Furnisher

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Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











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S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










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T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





Payday Loans

Payee

Paying (Payor) Bank

Payment Due Date

Payoff

Payoff Statement

Payor

Periodic Rate

Periodic Statement


PITI

Point of Sale (POS)

Power of Attorney


























Prepayment

Prepayment Clause

Prepayment Penalty

Previous Balance

Principal Balance



Reconciliation

Redlining

Refinancing

Refund









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Q

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R












Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











^ Back to Top ^

S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





Prepayment

Prepayment Clause

Prepayment Penalty

Previous Balance

Principal Balance



Reconciliation

Redlining

Refinancing

Refund









^ Back to Top ^

Q

^ Back to Top ^

R












Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











^ Back to Top ^

S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





Release of Lien

Renewal

Residual Interest

Return Item

Reverse Mortgage

Revolving Credit

Right of Offset

Right of Rescission


Safekeeping


Service Charge

Signature Card

or Act)











^ Back to Top ^

S











Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z






Stale-Dated Check

State Bank


Statement

Stop Payment

Student Loan

Substitute Check

Terms


Time Deposit

Trust Account




check










^ Back to Top ^

T









Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





Trust Administrator


Uncollected Funds



Usury

Usury Rates

Variable Rate

Wire Transfer




^ Back to Top ^

U







^ Back to Top ^

V


^ Back to Top ^

W


^ Back to Top ^

X





^ Back to Top ^

Y

^ Back to Top ^

Z





^ Back to Top ^

Y

^ Back to Top ^

Z

Documents

Dictionary of Banking Terms and Phrases