21 Terms
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General banking
Banking related terms and phrases in general.
Industry: Banking
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General banking
flood insurance
Banking; General banking
Flood insurance protects against water from an overflowing river or a hurricane's tidal surge and also covers damage from water that builds up during storms.
flood plain
Banking; General banking
A strip of relatively flat and normally dry land alongside a stream, river, or lake that is covered by water during a flood.
foreclosure
Banking; General banking
A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default.
foreign transaction fees
Banking; General banking
A fee assessed by your bank for making a transaction at another bank's ATM.
forgery
Banking; General banking
The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud.
fraud alert
Banking; General banking
A key provision of the Fair and Accurate Credit Transactions Act of 2003 is the consumer's ability to place a fraud alert on their credit record. A consumer would use this option if they believe they ...
