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 help make re payment. )
A fund 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 expert administration. To take part, the investor may spend charges and costs. (shared funds aren’t covered by FDIC insurance coverage). See also Collective Investment Funds.
A bank this is certainly susceptible to the guidance regarding the Comptroller associated with Currency. Any office for the Comptroller regarding the Currency is a bureau associated with U.S. Treasury Department. A bank that is national be recognized given that it will need to have “national” or “national relationship” with its title. See additionally Whom Regulates My Bank?
A member of staff associated with the Comptroller for the Currency whose function is always to examine federally chartered institutions that are financial. Examiners assess bank tasks and administration procedures to make certain nationwide banking institutions run in a safe and sound way and adhere to regulations.
The Federal agency that is regulatory 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?
The program of flooding insurance coverage protection and floodplain management administered beneath 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 checking account from where withdrawals could be created by negotiable requests of withdrawal (practical exact carbon copy of checks). This is certainly an interest-bearing account fully for that the bank must reserve the ability to need the depositor to give at the least 7 days notice of his/her intent to withdraw funds. See also NOW Account.
There are lots of kinds of Federal advantages that aren’t immediately protected under 31CFR 212: Federal advantages gotten by check as opposed to direct deposit; Federal advantages received a lot more than two months prior to the garnishment was received by the bank purchase or Federal advantages which were used in another banking account. The advantages can be exempt from garnishment but you’ll need certainly to alert the court or creditor. See also Garnishments.
A check drawn on a bank and finalized by an official bank official. (also called a cashier’s check. )
Banking institutions’ right in law to seize funds that the debtor or guarantor might have on deposit to pay for that loan in standard. Additionally it is referred to as right of setoff See also Right of Offset.
Something that enables a merchant account owner to acquire account information and manage specific banking deals through your own computer through the financial institution’s site on the net. (it is also referred to as Web or electronic banking. )
A credit contract (typically credit cards) which allows a person to borrow secured on a preapproved personal line of credit when buying products or services. The debtor is just billed for the quantity this is certainly actually lent plus any interest due. (also known as a cost account or revolving credit. ) See additionally bank card – Open End Credit and Residence Equity credit line – Open End Credit.
Nationwide banking institutions conduct a few of their banking activities through businesses called running subsidiaries. These subsidiaries are organizations which can be owned or managed with a bank that is national that, among other activities, offer banking services and products such as for example loans, mortgages, and leases.
Any office associated with the Comptroller associated with the Currency supervises http://www.speedyloan.net/title-loans-va/ and regulates those activities of numerous of the running subsidiaries. See additionally Nationwide Bank and Federal Savings Institution Working Subsidiary List.
A check compiled by a depositor which has had not yet been presented for re re payment to or compensated because of the depositor’s bank.
If the sum of money withdrawn from a banking account is more than the total amount really obtainable in the account, the extra is called an overdraft, while the account is reported to be overdrawn. See additionally Overdrafts.
To create a search for a sum that surpasses the amount on deposit when you look at the account.
An credit that is open-end where the assigned buck restriction happens to be surpassed. See additionally Overlimit.
A residential district which is why the Federal crisis Management Agency (FEMA) has authorized the sale of flooding insurance coverage underneath the nationwide Flood Insurance Program (NFIP). See also Participating Community.
A novel in ledger type in which are recorded all deposits, withdrawals, and profits of an individual’s checking account. See additionally Passbook.
Any note or other time tool of indebtedness who has not been compensated in the deadline.
A small-dollar, short-term loan that a debtor guarantees to settle from their next paycheck or deposit of funds.