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Banking - The minimum dollar amount that must be paid each month on a loan, line of credit, or other debt.
The Office of the Comptroller of the Currency - Cite This Source - This Definition - Browse Related Terms: Billing date, Debt collector, Debtor, Deferred payment, Guarantor, Late charge, Missing payment, Payment due date, Pre-payment
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Banking - No person shall engage in the business of issuing Connecticut instruments, or engage in the business of receiving money for transmitting the same, without first obtaining a license from the commissioner as provided in section 36a-600. No person shall engage in such business or in the business of selling Connecticut instruments as an agent or subagent, except as an agent or subagent of a licensee as provided in section 36a-607. "Money order" means any check, draft, money order or other instrument for the transmission or payment of money. "Money order" does not include a travelers check or electronic payment instrument. "Travelers check" means an instrument for the payment of money that contains a provision for a specimen signature of the purchaser to be completed at the time of a purchase of the instrument and a provision for a countersignature of the purchaser to be completed at the time of negotiation.
Connecticut Deptartment of Banking - Cite This Source - This Definition - Browse Related Terms: Alteration, Collection items, Forgery, Return item
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Banking - A mortgage broker means a person who, for a fee, commission or other valuable consideration, directly or indirectly, negotiates, solicits, arranges, places or finds a mortgage loan that is to be made by a mortgage lender or mortgage correspondent lender, whether or not the mortgage lender or mortgage correspondent lender are required to be licensed under sections 36a-485 to 36a-498a.
Connecticut Deptartment of Banking - Cite This Source - This Definition - Browse Related Terms: mortgage correspondent lender, mortgage lender, mortgage loan originator, Offset, right of, Right of offset
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Banking - A mortgage loan originator means an individual who is employed or retained by, or otherwise acts on behalf of, a mortgage lender, mortgage correspondent lender or mortgage broker licensee who, for, or with the expectation of, a fee, commission or other valuable consideration, takes an application for or negotiates, solicits, arranges or finds a mortgage loan. "Mortgage loan originator" does not include (1) an officer, if the licensee is a corporation; a general partner, if the licensee is a partnership; a member, if the licensee is a limited liability company; or a sole proprietor, if the licensee is a sole proprietorship, or (2) an individual whose responsibilities are limited to clerical and administrative tasks and who does not solicit borrowers, arrange or find mortgage loans, take applications or negotiate the terms of loans.
Connecticut Deptartment of Banking - Cite This Source - This Definition - Browse Related Terms: mortgage broker, mortgage correspondent lender, mortgage lender, Offset, right of, Right of offset
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Banking - A fund operated by an investment company that raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities. These funds offer investors the advantages of diversification and professional management. To participate, the investor may pay fees and expenses. (Mutual funds are not covered by FDIC insurance.)
The Office of the Comptroller of the Currency - Cite This Source - This Definition - Browse Related Terms: Bond, U.S. Savings, Power of attorney, savings and loan association, savings bank, security, Uniform Commercial Code (UCC)
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