financial services

Financial Guardian

Definition from Nolo’s Plain-English Law DictionarySee: guardian of the estate

Definition provided by Nolo’s Plain-English Law Dictionary.

Financial Institution Fraud

Financial Institution Fraud (FIF) involves fraud or embezzlement occurring within or against financial institutions that are insured or regulated by the U.S. Government.  Financial institutions are threatened by a wide array of frauds, including...

Fiscal Year Accounting Period

The 12-month period over which a company reports its spending and income.  It is measured by the first day of the month through the last day of the twelfth month.

Fixed Annuity

Definition from Nolo’s Plain-English Law DictionaryAn annuity that provides payments of a set amount for the recipient's life or some other specified term.Compare: variable annuity

Definition provided by Nolo’s Plain-English Law Dictionary.

Fixed Rate Mortgage

A mortgage loan with a fixed interest rate.  Compare to: Adjustable Rate Mortgage

Flexible Savings Account (FSA)

Definition from Nolo’s Plain-English Law DictionaryAn account into which employees may set aside pretax income for medical expenses not paid by health insurance (such as co-payments, premiums, and expenses that are outside of the employer's plan) or for...

Floating Lien

A security interest in a group of property that remains in place even after the exact items in that group of property change.  Thus, a business can obtain loans and provide as the collateral a general security interest in its inventory or accounts...

For Value Received

Definition from Nolo’s Plain-English Law DictionaryA phrase used in a promissory note, bill of exchange, or other contract to show that some consideration (money or other value) has been given in exchange for whatever the contract requires.

Definition...

Forbearance

Definition from Nolo’s Plain-English Law DictionaryVoluntarily refraining from doing something, such as asserting a legal right. For example, a creditor may forbear on its right to collect a debt by temporarily postponing or reducing the borrower's...

Forced Sale

Definition from Nolo’s Plain-English Law DictionaryThe sale of goods by a creditor of their owner, authorized by court order. For example, forced sales may occur when someone files for bankruptcy or goes through foreclosure.

Definition provided by Nolo’...

Foreclosure

An Overview Contents:IntroductionDefaultTypes of ForeclosuresAcceleration ClausesMortgage-Backed SecuritiesSale of Foreclosed PropertyRight of RedemptionTimingRelated Topics

 

Introduction

Foreclosure is a catch-all term for the...

Foreclosure Sale

Definition from Nolo’s Plain-English Law DictionaryThe forced sale of real estate, usually at public auction, that has been foreclosed on - that is, that has been seized by the lender after the borrower defaulted on mortgage payments.

Definition...

Foreign Direct Investment

Foreign Direct Investment: An Overview

The International Monetary Fund (“IMF”) defines foreign direct investment (“FDI”) as a “cross-border investment” in which an investor that is “resident in one economy [has] control or a...

Forger

Definition from Nolo’s Plain-English Law DictionarySomeone who creates or attempts to pass off a false document, signature, or other imitation of an object of value.

Definition provided by Nolo’s Plain-English Law Dictionary.

Forgery

Under common law, forgery is committed when a person makes or alters a writing so that it is false with the intent to defraud.

Fraude con Tarjeta de Crédito

El fraude con tarjeta de crédito implica el uso no autorizado de la información de la tarjeta de crédito de una persona con el propósito de cargar compras en la cuenta de la víctima o extraer fondos de su cuenta. El fraude con tarjeta de crédito está...

Full Disclosure

Definition from Nolo’s Plain-English Law Dictionary1) The need in certain situations (such as real estate transactions) for both parties to tell the whole truth about all information relevant to the transaction. 2) Securities and Exchange Commission rule...

Futures Contract

A contract between two parties for the purchase of a specified commodity at a future date.

Grace Period

A period of time during which a debtor is not required to make payments on a debt or will not be charged a fee. For example, most credit cards offer a grace period of 20 to 30 days before interest is charged on purchases; as long as you pay your bill...

Income

Money, goods, or other economic benefit received. Under income tax laws, income can be active through one's efforts or work, or passive from rentals, stock dividends, investments, and interest on deposits in which there is neither physical effort nor...

Incumber

See: encumber

Incumbrance

See: encumbrance

Index (finance)

A market-sensitive interest rate that determines interest-rate changes on adjustable-rate mortgages and other variable rate loans. Common indices include the six-month London Interbank Offered Rate (LIBOR), the Federal Home Loan Bank 11th District Cost...

Individual Retirement Account (IRA)

A retirement plan established by an individual that allows annual contributions of income and provides some tax advantages.

National Credit Union Administration (NCUA)

Definition from Nolo’s Plain-English Law DictionaryA federal agency that charters and supervises federal credit unions. The NCUA insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share...

National Credit Union Share Insurance Fund (NCUSIF)

Definition from Nolo’s Plain-English Law DictionaryA federal fund backed by the full faith and credit of the U.S. government that provides deposit insurance for credit unions in much the same way as the FDIC provides insurance for banks.

Definition...

nuisance fees

Definition from Nolo’s Plain-English Law DictionaryFees charged by a credit card company or bank for using (or failing to use) its services in particular ways, such as inactivity fees, fees for not carrying a balance on a credit card, or fees for using an...

partially secured debt

Definition from Nolo’s Plain-English Law DictionaryA debt that is secured by collateral that is worth less than the debt -- for example, a $12,000 car loan that is secured by a car that's now worth only $10,000.

Definition provided by Nolo’s Plain-...

pawn

Definition from Nolo’s Plain-English Law DictionaryTo pledge an item of personal property as security for a loan, with the property left with the pawnbroker. The interest rates are on the high side, the amount of the loan is well below the value of the...

pawnbroker

Definition from Nolo’s Plain-English Law DictionaryOne who lends money in exchange for items pledged as collateral.

Definition provided by Nolo’s Plain-English Law Dictionary.

predatory lending

Definition from Nolo’s Plain-English Law DictionaryAny type of unscrupulous lending practice where a lender takes advantage of a borrower. It usually involves borrowers taking on high-cost loans they cannot afford to pay over time because the loans were...

Principal

In general, a person or thing that is more important than others when identified for a particular purpose.  More specifically, in various contexts:

1.  Someone who authorizes another to act in his or her place.  See Agent,...

subprime loan

A loan made to a borrower who is ineligable for the best market rates (prime rates), but rather at  a higher rate of interest because of increased risk factors (the bank fears they are less likely to repay the loan due to lack of collateral or low...

subprime mortgage

 A sub-prime loan used as a mortgage (to buy property such as a house)

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