Banking definitions beginning with U

Offshore Banking

Banking (314) : A B C D E F G H I J K L M N O P Q R S T U V W X Y Z # Definitions 1 - 6 of 6 beginning with U

Uncollected funds - permalink - collapse

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A portion of a deposit balance that has not yet been collected by the depository bank.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
Browse Related Terms: Available balance, Bank statement, Deposit slip, Exception hold, Hold, Safe (or safety) deposit box

Uniform Commercial Code (UCC) - permalink - collapse

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A set of statutes enacted by the various States to provide consistency among the States' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
Browse Related Terms: Bond, U.S. Savings, Mutual Fund, Power of attorney, savings and loan association, savings bank, security

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Uniform Gift to Minors Account - permalink - collapse

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A UGMA provides a child under the age of 18 (a minor) with a way to own investments. The money is in the minor's name, but the custodian (usually the parent) has the responsibility to handle the money in a prudent manner for the minor's benefit. The parent cannot withdraw the money to use for his or her own needs.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
Browse Related Terms: Availability policy, Inactive account, Individual retirement account (IRA), Negotiable Order of Withdrawal Account (NOW), Passbook, Time deposit

uninsured bank - permalink - collapse

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An uninsured bank does not accept retail deposits and need not apply for federal deposit insurance. Organizers may consider an uninsured bank charter to engage in wholesale banking or in merchant banking.
Connecticut Deptartment of Banking - Cite This Source - This Definition
Browse Related Terms: agency, bank, branch, foreign bank, business and industrial development corporation, Federal Deposit Insurance Corporation (FDIC), Federal Emergency Management Agency (FEMA), Federal Reserve System, foreign banks with state branches, franchise, Freedom of Information Act (FOIA), Insured deposits, representative office

Usury - permalink - collapse

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Charging an illegally high interest rate on a loan.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
Browse Related Terms: Adjustable-rate mortgages (ARMS), Annual percentage rate (APR), Annual percentage yield (APY), Conventional fixed-rate mortgage, Debt-to-income ratio (DTI), Fixed-rate loan, Fixed-rate mortgage, Interest rate index, Periodic rate, Refinancing, Terms, Usury rates, Variable rate

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All > Law > Common Legal Terms

Usury rates - permalink - collapse

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The maximum rate of interest lenders may charge borrowers. The usury rate is generally set by State law.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
Browse Related Terms: Adjustable-rate mortgages (ARMS), Annual percentage rate (APR), Annual percentage yield (APY), Conventional fixed-rate mortgage, Debt-to-income ratio (DTI), Fixed-rate loan, Fixed-rate mortgage, Interest rate index, Periodic rate, Refinancing, Terms, Usury, Variable rate

Banking (314) : A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #