The financial institution in home financing loan relationship. See also Mortgagee/Loss Payee.
The debtor in home financing loan relationship. (home is employed as security to produce re re payment. )
A investment operated by a good investment business that raises money from investors and invests it in shares, bonds, choices, commodities, or cash market securities. These funds provide investors the benefits of diversification and management that is professional. To engage, the investor may spend charges and expenses. (shared funds aren’t included in FDIC insurance coverage). See investment that is also collective.
A bank that is susceptible to the direction associated with Comptroller for the Currency. Work associated with the Comptroller associated with Currency is really a bureau associated with the U.S. Treasury Department. A nationwide bank can be recognized since it should have “national” or “national relationship” in its title. See additionally Whom Regulates My Bank?
A member of staff of this Comptroller for the money whose function is always to examine federally chartered institutions that are financial. Examiners assess bank activities and administration procedures to make certain nationwide banking institutions run in a secure and manner that is sound conform to legal guidelines.
The Federal regulatory agency that charters and supervises Federal credit unions. (NCUA additionally administers the nationwide Credit Union Share Insurance Fund, which insures the build up of Federal credit unions).
See additionally Whom Regulates My Bank?
This program of flooding insurance coverage protection and floodplain management administered underneath the Flood Disaster Protection Act (FDPA or Act) and relevant Federal laws discovered in Title 44 regarding the Code of Federal Regulations, Subchapter B. See also Flood Insurance.
A family savings from where withdrawals could be produced by negotiable purchases of withdrawal (practical exact carbon copy of checks). This can be an account that is interest-bearing that the bank must reserve the ability to require the depositor to give at the very least 7 days notice of his/her intent to withdraw funds. See additionally NOW Account.
There are several kinds of Federal advantages which are not immediately protected under 31CFR 212: Federal advantages gotten by check as opposed to direct deposit; Federal advantages received significantly more than two months ahead of the garnishment was received by the bank purchase or Federal advantages that have been utilized in another bank-account. The huge benefits might be exempt from garnishment but you’ll need to alert the court or creditor. See also Garnishments.
A check drawn for a bank and finalized by an official bank official. (also called a cashier’s check. )
Banking institutions’ right to seize funds that a debtor or guarantor could have on deposit to pay for that loan in standard. It’s also referred to as right of setoff See also Right of Offset.
A site enabling a merchant account owner to have account information and manage particular banking deals through an individual computer through the lender’s site on the net. (this might be also called Web or electronic banking. )
A credit contract (typically a charge card) that enables a client to borrow on a preapproved personal line of credit when buying products or services. The debtor is just billed for the total amount this is certainly actually borrowed plus any interest due. (also referred to as a cost account or revolving credit. ) See additionally bank card – Open End Credit and Residence Equity personal credit line – Open End Credit.
Nationwide banking institutions conduct a number of their banking tasks through organizations called operating subsidiaries. These subsidiaries are organizations which are owned or managed by a bank that is national that, among other items, offer banking products such as for instance loans, mortgages, and leases.
Any office of this Comptroller of this Currency supervises and regulates the actions of numerous of these running subsidiaries. See additionally National Bank and Federal Savings Organization Operating Subsidiary List.
A check published by a depositor that includes perhaps maybe not yet been presented for re payment to or compensated because of the depositor’s bank.
If the sum of money withdrawn from a banking account is higher than the total amount really obtainable in the account, the surplus is called an overdraft, in addition to account is said to be overdrawn. See additionally Overdrafts.
To create a search for a sum that surpasses the quantity on deposit when you look at the account.
An credit that is open-end where the assigned buck restriction is exceeded. See additionally Overlimit.
A residential area which is why the Federal crisis Management Agency (FEMA) has authorized the purchase of flooding insurance coverage beneath the nationwide Flood Insurance Program (NFIP). See also Participating Community.
A novel in ledger kind by which are recorded all deposits, withdrawals, and earnings of a person’s checking account. See also Passbook.
Any note or any other time tool of indebtedness which has maybe not been compensated title loans virginia regarding the date that is due.
A small-dollar, short-term loan that a debtor guarantees to settle out of their next paycheck or deposit of funds.