Banking terms starting with S

23 terms

  1. Safe (or Safety) Deposit Box A type of safe usually located in groups inside a bank vault and rented to customers for their use in storing valuable items.
  2. Safekeeping A service provided by banks where securities and valuables are protected in the vaults of the bank for customers.
  3. sales finance company A sales finance company is any person or entity that engages in Connecticut in the business, in whole or in part, of acquiring retail instalment contracts…
  4. Satisfaction of Mortgage A document issued by a mortgagee (the lender) when a mortgage is paid in full.
  5. savings and loan association Connecticut law allows the formation of a savings and loan association in either mutual or capital stock form.
  6. savings bank Savings banks were initially formed in the early 1800's in the northeastern United States to promote thrift among wage earners.
  7. secondary mortgage loan A secondary mortgage loan means (A) a loan or an extension of credit, including, but not limited to, an extension of credit pursuant to a contract or an…
  8. Security The term "security" covers a broad variety of financial instruments, including stock, promissory notes, bonds, debentures, limited partnership interests…
  9. Seller For purposes of the list maintenance requirement, a seller is: Any organizer, underwriter, broker, or dealer (or other similar person) who transfers any…
  10. Service Charge A charge assessed by a depository institution for processing transactions and maintaining accounts.
  11. service mark Not every business opportunity must be registered with the Department of Banking under the Connecticut Business Opportunity Investment Act.
  12. share Share means the basic unit of capital of a Connecticut credit union. Members may receive dividends based on the number of shares held.
  13. Signature Card A card signed by each depositor and customer of a bank which may be used as a means of identification.
  14. small corporate offering registration (scor) (see registration by qualification) The Small Corporate Offering Registration ("SCOR") is designed for United States based corporations that offer securities in reliance on the exemption…
  15. small loan company A small loan company is any person or entity that engages in the business of making loans of money or credit in the amount or to the value of five…
  16. Special Flood Hazard Area (SFHA) An area defined on a Flood Insurance Rate Map with an associated risk of flooding.
  17. Stale-Dated Check Presented to the paying bank 180 days (6 months) or more after the original issue date.
  18. State Bank A bank that is organized under the laws of a State and chartered by that State to conduct the business of banking.
  19. State Banking Department The organization in each State that supervises the operations and affairs of State banks.
  20. Statement A summary of all transactions that occurred over the preceding month and could be associated with a deposit account or a credit card account.
  21. Stop Payment An order not to pay a check that has been issued but not yet cashed. If requested soon enough, the check will not be debited from the payer's account.
  22. Student Loan Loans made, insured, or guaranteed under any program authorized by the Higher Education Act. Loan funds are used by the borrower for education purposes.
  23. Substitute check A substitute check is a paper copy of the front and back of the original check.