leoglossary

The purpose of this Act is to help consumers protect their credit identities and recover from identity theft. One of the key…

A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any…

The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act.…

The total cost of credit a customer must pay on a consumer loan , including interest . The Truth in Lending Act requires…

Undertaking to act as executor, administrator, guardian, conservator, or trustee for a family trust, authorized trust, or testamentary…

A real estate loan which is in a first lien position, taking priority over all other liens. In case of a foreclosure , the…

The interest rate and the payment remain the same over the life of the loan . The consumer makes equal monthly payments of…

Flood insurance protects against water from an overflowing river or a hurricane's tidal surge and also covers damage from water that…

A fee assessed by your bank for making a transaction at another bank's ATM . BankGlossary LeoGlossary Main Menu…

A check on which the drawer's signature has been forged. BankGlossary LeoGlossary Main Menu Posted Using LeoFinance…

The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage , or check . The intent of the…

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…

A Federal law that mandates that all the records created and kept by Federal agencies in the executive branch of government must be…

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

An extension of credit from a financial institution that is guaranteed by a Federal or State government entity to assist with…

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

Used to indicate that a certain amount of a customer's balance may not be withdrawn until an item has been collected, or until a…

A line of credit secured by the equity in a consumer's home. It can be used for home improvements, debt consolidation, and…

A home equity loan allows you to tap into your home's built-up equity , which is the difference