Federal Regulation
Currency and Foreign Transactions reporting Act that prevents money laundering.
What is Bank Secrecy Act?
What is Reg B
Commonly called the cental bank for the U.S.
The value of the property minus the outstanding balance of the borrowers primary mortgage
What is Equity
Money lent to a borrower
What is a loan?
Used by criminals to process large amounts of cash that was obtained illegally.
What is money laundering
What is Reg BB?
Also known as EFT which protects the rights, liabilities and responsibilities of consumers.
Reg E
What is Reg D?
The amount borrowed in the loan
What is a Principle sum?
Federal law that is designed to enable banks to handle more checks electronically.
Expedited Funds of Availability
What is Reg CC?
Put in place to restore consumers' confidence in banks
What is the FDIC?
A credit source where borrowers draw from an approved credit limit.
line of credit
A credit source where borrowers draw from and approved credit limit.
What is a line of credit?
Ensures accuracy, fairness and privacy of personal information.
What is FCRA
Saving limits and early withdrawal penalties
What is Reg D?
Known as Truth in Lending act
What is reg Z?
This bank product helps customers establish or rebuild their credit.
What are secured credit cards?
Sending money to another person using their mobile device
What is Peer to peer payments
These regulations impose economic sanctions and prohibit or restrict any person or entity from doing business with certain foreign countries.
What is OFAC
Known as the truth in saving act
What is Reg DD
Sets the minimum standards for financial institutions and their customers to identify and verify any customer.
USA Patriot Act?
The amount the lender charges the borrower to provide the loan
What is a interest rate?
The amount of interest a depositor earns on a interest-bearing deposit account without compounding interest.
What is Annual percentage Rate?