Banking terms starting with E

15 terms

  1. Electronic Banking A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the…
  2. Electronic Check Conversion Electronic check conversion is a process in which your check is used as a source of information-for the check number, your account number, and the number…
  3. Electronic Funds Transfer (EFT) The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than…
  4. Embezzlement In most States, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those…
  5. Encoding The process used to imprint or inscribe MICR characters on checks, deposits, and other financial instruments.
  6. Enforcement Action A regulatory tool that the OCC may use to correct problems or effect change in a national bank.
  7. Equal Credit Opportunity Act (ECOA) Prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or…
  8. Error Resolution The required process for resolving errors involving electronic transfers to and from deposit accounts
  9. Escheat Reversion of real or personal property to the State when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank…
  10. Escrow A financial instrument held by a third party on behalf of the other two parties in a transaction.
  11. Escrow Analysis The periodic examination of escrow accounts by a mortgage company to verify that monthly deposits are sufficient to pay taxes, insurance, and other…
  12. Escrow Funds Funds held in reserve by a mortgage company to pay taxes, insurance, and other mortgage-related items when due.
  13. Estate Account An account held in the name of a decedent that is administered by an executor or administrator of the estate.
  14. Exception Hold A period of time that allows the banks to exceed the maximum hold periods defined in the Expedited Funds Availability Act.
  15. Excess Spread ​The extent to which the Weighted Average Coupon on the assets underlying an asset-backed security exceeds the coupon rate of that security plus any…