Business terms starting with C

398 terms

Check A written order instructing a financial institution to pay immediately on demand a specified amount of money from the check writer's account to the person…
Check (Share Draft) A written order instructing a financial institution to pay immediately on demand a specified amount of money from the member's account to the person named…
Check 21 Act Check 21 is a Federal law that is designed to enable banks to handle more checks electronically, which is intended to make check processing faster and…
check cashing service (1) "General facility" means a facility at a fixed location where a licensee may engage in the business of cashing checks, drafts or money orders and…
Check Deposit Return The fee that is charged to an account holder if a check that is deposited in the account is returned by the paying bank (because of insufficient funds…
Check hold When you deposit a check, your bank or other financial institution may delay crediting the money to your account during what's called the check hold…
Check truncation The conversion of data on a check into an electronic image after a check enters the processing system.
Checking account A demand deposit account subject to withdrawal of funds by check.
Checking Account (Share Draft Account) A demand deposit share account subject to withdrawal of funds by check. Credit unions refer to a checking account as a share draft account.
Chemical Emergency Preparedness and Prevention Office (CEPPO) The Chemical Emergency Preparedness and Prevention Office (CEPPO) provides leadership, advocacy and assistance to: Prevent and prepare for chemical…
ChexSystems The ChexSystems, Inc. network is comprised of member financial institutions that regularly contribute information on mishandled checking and savings…
Chief Administrative Law Judge (Chief ALJ) Chief Administrative Law Judge (Chief ALJ) means the chief official of the Office of the Administrative Law Judges of the Department of Labor or the Chief…
Churning Excessive buying and selling in a customer's account undertaken to generate commissions for the broker.
Circuit breaker After the stock market crash of 1987, stock and commodities exchanges established a system of trigger-point rules known as circuit breakers.
Citizen or Resident Test Assuming all other dependency tests are met, the citizen or resident test allows taxpayers to claim a dependency exemption for persons who are U.S.
Claim Your request for the insurance company to pay you an amount under the terms of your policy.
Claimant A person who makes an insurance claim.
Claims Adjuster A person an insurance company hires to settle claims. The adjuster can be a company employee or an independent party under contract with the company.
Claims Procedure Act Effective July 1, 2003, The South Carolina Retirement Systems Claims Procedure Act provides remedies available in a dispute or controversy between the…
Clapboard Wood Siding composed of horizontal, overlapping boards, the lower edges of which are usually thicker than the upper.
Clean Air Act (CAA) The Superfund law incorporates those substances listed as hazardous air pollutants under section 112 of the Clean Air Act (CAA) as CERCLA hazardous…
Clean Water Act (CWA) The Superfund law incorporates those substances listed as hazardous water pollutants under section 311 (b)(4) of the Clean Water Act (CWA) as CERCLA…
Clear Title Ownership that is free of liens, defects, or other legal encumbrances.
Clearance Clearance is the first half of the process that completes your order to buy or sell a security.
Clearing firm Clearing firms handle the back-office details of securities transactions between broker-dealers, making the settlement process streamlined and efficient.
Clearinghouse Clearing corporations, or clearinghouses, provide operational support for securities and commodities exchanges.
Closed-End Credit Generally, any credit sale agreement in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date.
Closed-end fund Closed-end mutual funds are actively managed funds that raise capital only once, by issuing a fixed number of shares.
closed-end funds A fund company that issues a fixed number of shares. Its shares are not redeemable, but are bought and sold on stock exchanges or the over-the-counter…
Closed-End Loan Generally, any loan in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date.
closed-end mortgage A mortgage principal amount that is fixed and cannot be increased during the life of the loan. See also: open-end mortgage.
Closely held A closely held corporation is one in which a handful of investors, often the people who founded the company, members of the founders' families, or…
Closing when selling a house, the process of transferring ownership from the seller to the buyer, the disbursement of funds from the buyer and the lender to the…
Closing (or settlement) costs Fees paid when you close (or settle) on a loan. These fees may include application fees; title examination, abstract of title, title insurance, and…
Closing a Mortgage Loan The consummation of a contractual real estate transaction in which all appropriate documents are signed and the proceeds of the mortgage loan are then…
Closing Agent The person or entity that coordinates the various closing activities, including the preparation and recordation of closing documents and the disbursement…
Closing Costs The expenses incurred by sellers and buyers in transferring ownership in real property.
Closing Costs or Settlement Fees Fees paid to effect the closing of a mortgage. (Such as points, title fees, survey fees, etc.)
Closing Date The date on which the sale of a property is to be finalized and a loan transaction completed.
Closing or Settlement The meeting between the seller, buyer and closing attorney when the property legally changes hands, the transaction is legally closed, or both.
Closing price The closing price of a stock, bond, option, or futures contract is the last trading price before the exchange or market on which it is traded closes for…
Closing Statement A closing statement, also called a HUD1 or settlement sheet, is a legal form your closing or settlement agent uses to itemize all of the costs you and the…
Closing Statement or Settlement Statement This is a document prepared by the Title Company that details the final and specific costs involved for both the buyer and seller in a real estate…
Cloud A claim to the title of a property that, if valid, would prevent a purchaser from obtaining a clear title.
Cloud On The Title Any condition which affects the clear title to real property.
CMOs (Collateralized Mortgage Obligations) Mortgage-backed securities, segmented into tranches, so that investors can choose a tranche that fits their desired timing of payments.
CNE A Certificate of No Effect as defined by section 25-306 of the New York City Administrative Code.
Co-applicant Ethnicity Ethnicity of the co-applicant. This is reported for originated loans and for loan applications that do not result in an origination.
Co-applicant Race Race of the co-applicant. This is reported for originated loans and for loan applications that do not result in an origination.
Co-applicant Sex Sex of the co-applicant. This is reported for originated loans and for loan applications that do not result in an origination.
Co-Borrower Any borrower other than the first borrower whose name appears on the application and mortgage note, even when that person owns the property jointly with…
Co-Homeowners one or more persons who have signed a loan note, and are equally responsible for repaying the loan.
Co-Maker A person who signs a note to guarantee a loan made to another person and is jointly liable with the maker for repayment of the loan.
Co-mortgagor One who is individually and jointly obligated to repay a mortgage loan and shares ownership of the property with one or more borrowers.
Co-Signed Account An account signed by someone in addition to the primary borrower, making both people responsible for the amount borrowed.
Co-Signer An individual who signs the note of another person as support for the credit of the primary signer and who becomes responsible for the obligation.
Coinsurance When your healthcare insurance has a coinsurance provision, you and your insurer divide the responsibility for paying doctor and hospital bills by…
Coinsurance Clause An agreement with the insurance company in which you agree to carry insurance on your property in an amount equal to a certain percentage of its actual…
Collateral Assets that are offered to secure a loan or other credit. For example, if you get a real estate mortgage, the bank's collateral is typically your house.
Collateralized Mortgage Obligation (CMO) Mortgage-backed securities, segmented into tranches, so that investors can choose a tranche that fits their desired timing of payments.
Collected Funds Cash deposits or checks that have been presented for payment and for which payment has been received.
Collectible Collectibles include virtually any items of personal property that are unique, limited in quantity, antique, or hold special quality or personal…
Collection Account An unpaid debt referred to a collection agency to collect on the bad debt. This type of account is reported to the credit bureau and will show on the…
Collection Agency A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect…
Collection Items Items-such as drafts, notes, and acceptances-received for collection and credited to a depositor's account after payment has been received.
Collections the efforts a lender takes to collect past due payments.
Collective Investment Funds (CIFs,CIF) A Collective Investment Fund (CIF) is a trust created and administered by a bank or trust company that commingles assets from multiple clients.
CollegeSureÃÂ® CD CollegeSureÃÂ® CDs are certificates of deposit designed to let you prepay future college costs at today's rates, plus a premium based on the child's…
Collision This benefit pays to repair damage to your car as a result of an accident. Most banks or lenders require you to buy this coverage to receive a car loan.
Collision Coverage Pays for damage to your vehicle when it collides with another vehicle or object or if it overturns.
Colonnade A row of regularly spaced columns supporting an entablature.
Colonnette A diminutive column which is usually either short or slender.
Color The sensible perception of hue, value and saturation characteristics of surfaces of window components.
Column A vertical, cylindrical support. In classical design it is composed of a base (except in the Greek Doric order), a long, gradually tapered shaft, and a…
Combined Loan-to-Value (CLTV) The relationship of the outstanding balances of a first and second mortgage to the value of the home used to determine the maximum percentage of value…
Commercial bank Commercial banks offer a full range of retail banking products and services, such as checking and savings accounts, loans, credit cards, and lines of…
Commercial Mortgage-Backed Securities (CMBS) A type of Mortgage-Backed Security backed by commercial mortgage loans.
Commercial Paper Short-term, unsecured, discounted notes issued by institutional borrowers and sold to investors for short term cash investment needs.
Commission A portion of the policy premium that is paid to an insurance producer (agent) by the insurance company as compensation for the producer’s work.
Commissioners The 11 Commissioners, including the Chairman, as established by Section 3020 of the Charter. All are appointed by the Mayor.
Commitment An offer to grant a mortgage loan which outlines the terms, the amount of the loan, the interest rate and any conditions that the commitment or approval…
commitment fee A fee charged when a) an agreement is reached between a lender and a borrower for a loan at a specific rate and points and b) the lender guarantees to…
Commitment Letter A binding offer from your lender stating the amount of the mortgage, the number of years to repay the mortgage (the term), the interest rate, the loan…
Committee on Uniform Securities Identifying Procedures (CUSIP) The Committee on Uniform Securities Identifying Procedures (CUSIP) assigns codes and numbers to all securities traded in the United States.
Commodity Commodities are bulk goods and raw materials, such as grains, metals, livestock, oil, cotton, coffee, sugar, and cocoa, that are used to produce consumer…
Commodity flow method Method used to estimate purchases of a commodity by intermediate or final users.
Commodity Futures Trading Commission (CFTC) The CFTC is the federal agency that regulates the US futures markets, as the Securities and Exchange Commission (SEC) regulates the securities markets.
Common Access Card (CAC) An Agency smartcard issued as standard identification for agency personnel, selected reserve personnel, civilian employees, and eligible contractor…
Common Areas Those portions of a building, land, or improvements and amenities owned by a planned unit development (PUD) or condominium project's homeowners'…
common shares Securities which represent part ownership in a company and generally carry voting privileges.
Common Stock When you own common stock, your shares represent ownership in the corporation and give you the right to vote for the company's board of directors and…
Community A political entity that has the authority to adopt and enforce floodplain ordinances for the area under its jurisdiction.
Community Advisory Groups (CAG) A Community Advisory Group (CAG) is made up representatives of diverse community interests.
community bank Section 36a-70(r)(2) allows the formation of a community bank with $3 million in capital.
Community development area An area defined by local authorities for government-assisted housing programs.
community development bank A community development bank is organized to serve the banking needs of a well-defined neighborhood, community, or other geographic area and, typically…
Community land trust A community land trust is a private, non-profit organization whose goal is to acquire and hold land for the benefit of the community and to provide secure…
Community property In nine US states, any assets, investments, and income that are acquired during a marriage are considered community property, or owned jointly by the…
Community Rating System (CRS) A program developed by the FEMA Mitigation Division to provide incentives for those communities in the National Flood Insurance Program that have gone…
Community Reinvestment Act The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and…