Oddball
What Is Income?
Income means the amount of money received during a period of time. Including money received in exchange for labor or services.
What Is Fraud?
A trick or some dishonest means to deprive another of his or her money, property or legal rights.
What Is An ATM?
A specialized computer used by bank customers to manage their money. (Automated Teller Machine)
What Is A Fee?
Charges for services by a financial institution or lender.
What Is A Checking Account?
A bank account that allows a customer to deposit and withdraw money and write checks.
What Is Estate?
The net worth of an individual including all of their assets.
What Is Foreclosure?
The legal process by which an owner’s right to a property is terminated, usually because of failure to make loan payments as agreed.
What Is The FDIC?
Federal Deposit Insurance Corporation.
(An independent agency of the United States government that protects customers from the loss of their deposits if an FDIC insured financial institution fails.)
What Is A Transaction?
An agreement between a buyer and seller to exchange an asset for payment.
What Does Deposit Mean?
To put money into your account.
What Is A Good Faith Estimate?
A document that tells mortgage borrowers the approximate costs they will pay at or before closing.
What Is Skimming?
Your debit card or credit card information is used illegally by an individual such as a store employee after you have made a purchase with your card.
What Is APR?
A measurement used to compare different loans, the APR takes into account a loan’s interest rate, term, and fees (Annual Percentage Rate)
What Is A Penalty Fee?
A fee charged for the violation of a rule in a financial agreement.
What Is A Cardmember/Cardholder Agreement?
The Terms and Conditions of your credit card account. It includes information such as the rate, fees, and other cost information associated with the account.
What Is Liquidity?
The ability of an asset to be converted into cash quickly.
What is Phishing?
Is usually a two-part scam involving email and spoof websites. Fraudsters, also known as phishers.
What Is EFT?
Allows you to have funds electronically transferred into your account(s) such as deposit of your payroll check. (Electronic Funds Transfer)
What Is A Term? (Banking)
A period of time over which a loan is scheduled to be repaid.
What Is A Money Market Account
A form of savings account that requires a larger balance than CDs or regular savings accounts, usually $10,000 or more.
What Is The Rule of 72?
A way to estimate the time or interest rate you would need to double your money on an investment.
What Is Predatory Lending?
When lenders conduct business in ways that is illegal or not in the best interest of borrowers, using tactics that are fraudulent.
What Does IRS Stand For?
Internal Revenue Service
What Is A Finance Charge?
The amount of money a borrower pays to a lender for the privilege of borrowing money, including interest and other service charges.
What Is A Certificate of Deposit (CD)?
A bank account in which you agree to keep the money for a specified period of time.