General banking

General banking

Banking related terms and phrases in general.

Industry: Banking

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General banking

Freedom of Information Act (FOIA)

Banking; General banking

A Federal law that mandates that all the records created and kept by Federal agencies in the executive branch of government must be open for public inspection and copying. The only exceptions are ...

An account on which funds may not be withdrawn until a lien is satisfied and a court order or other legal process makes the account available for withdrawal (e.g., the account of a deceased person is ...

furnisher

Banking; General banking

An entity that provides information about a consumer to a consumer reporting agency for inclusion in a consumer report.

garnishment/garnish

Banking; General banking

A legal process that allows a creditor to remove funds from your bank account to satisfy a debt that you have not paid. If you owe money to a person or company, they can obtain a court order ...

guaranteed student loan

Banking; General banking

An extension of credit from a financial institution that is guaranteed by a Federal or State government entity to assist with tuition and other educational expenses. The government entity is ...

guarantor

Banking; General banking

A party who agrees to be responsible for the payment of another party's debts should that party default.

hold

Banking; General banking

Used to indicate that a certain amount of a customer's balance may not be withdrawn until an item has been collected, or until a specific check or debit is posted.