General banking

General banking

Banking related terms and phrases in general.

Industry: Banking

Add a new term

Contributors in General banking

Become a Contributors

General banking

account agreement

Banking; General banking

The contract governing your open-end credit account, it provides information on changes that may occur to the account.

account history

Banking; General banking

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

Any and all persons designated and authorized to transact business on behalf of an account. Each account holder's signature needs to be on file with the bank. The signature authorizes that person to ...

accrued interest

Banking; General banking

Interest that has been earned but not yet paid.

acquiring bank

Banking; General banking

In a merger, the bank that absorbs the bank acquired.

adjustable-rate mortgages (ARMS)

Banking; General banking

Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans. The interest rate may change over the life of the loan as market conditions ...

adverse action

Banking; General banking

Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an unfavorable change in an existing account.