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Review terms and their definitions.


Usually unlawful discriminatory banking (or insurance) practice whereby those living in or doing business in certain poor (or allegedly bad) neighborhoods are either denied credit (or insurance) or have to pay higher than normal rates.

Check Cashing Fee

a fee that the bank will charge you when you deposit a check issued by a customer of another bank into your bank account.

Check Stub-

The part of a payroll check that includes information about the current paycheck as well as payments to date..

Collateralized Loan

Property pledged as security for performance of an obligation, such as a loan, mortgage loan

Commercial Bank

Privately owned financial institution which (1) accepts demand and time deposits, (2) makes loans to individuals and organizations, and (3) provides services such as documentary collections, international banking, trade financing.

Cashier's Check

A check written by a financial institution on its own funds. It is then signed by a representative of the financial institution and made payable to a third party.

Check fraud

A criminal act which involves the unlawful use of checks to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership.


A person who adds money to their account.

Overdraft Protection

Credit arrangement under which a bank automatically extends a short-term loan to cover a check's amount that exceeds the check writer's (drawer's) account balance. This arrangement ensures the check is not returned (bounced) due to not sufficient funds (NSF) which may call for a criminal charge.

Direct Deposit

Automatic transfer of salaries, wages, rents, benefits, or other such sums, directly to the account of an employee or beneficiary.

Finance Companies

A company concerned primarily with providing money, as for short-term loans
Financial Intermediaries-channeling funds between surplus and deficit agents


Difficulty converting something to cash. Real property is deemed illiquid because turning it into money is not easy.

Insufficient Funds

Occurs when an account cannot provide adequate funds to satisfy the demand of a payment.


To sign a legal document, such as a check.


A federal agency that provides insurance on funds deposited with banks and thrift institutions up to $100,000.

Line Of Credit

An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period.

Money Market Account

Special savings-account which pays fluctuating interest rate that, on average, is higher than the interest rate on ordinary savings accounts.

U.S. Savings Bond

-free government bonds sold usually at a discount on their par-value, and considered risk free investment.

Certified Check

A type of check where the issuing bank guarantees the recipient of the check that there is enough cash available in the holder's account to be transferred when the check is used and also that the account holder's signature on the check is genuine.

Check Number-

A number assigned a check by the financial institution

Money Order

Financial instrument, issued by a bank or other institution, allowing the individual named on the order to receive a specified amount of cash on demand.

Online Access

Computerized service that allows a bank's customers to get online with the bank via telephone lines to view the status of their account(s) and transaction history. It usually also allows them to transfer funds, pay bills, request check books, etc.

PIN Number

Personal Identification Number. Code used by an individual so that he/she can access his/her bank account at an ATM machine, but others can't.

Credit Union

Financial cooperative created for and by its members who are its depositors, borrowers, and shareholders.

Predatory Lending

Any of a number of fraudulent, deceptive, discriminatory, or unfavorable lending practices.

Promissory Note

A document signed by a borrower promising to repay a loan under agreed-upon terms also called note

Reconciliation of Check Register

Item by item examination of two related sets of figures obtained from the bank statement and your records.

Check Register

A small booklet you receive with your checks when you open a checking account.

Safe Deposit Box

Strong storage container maintained in the vault area of a bank and rented to bank customers for safekeeping of valuables.

Savings Bank

A financial institution whose primary function is to hold deposit in savings accounts.

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