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credit

(Encyclopedia) credit, granting of goods, services, or money in return for a promise of future payment. Most credit is accompanied by an interest charge, which usually makes the future payment…

The Top Five Consumer Credit Scams

They can drain your finances, destroy your good reputation, and even get you jailedSource: Federal Trade Commission. Credit repair. Credit-repair companies run advertisements in newspapers, radio,…

Seidman, L. William

(Encyclopedia) Seidman, L. William (Lewis William Seidman)Seidman, L. Williamsēdˈmən [key], 1921–2009, U.S. government official and accountant, b. Grand Rapids, Mich., grad. Dartmouth (A.B., 1943),…

Farm Credit Administration

(Encyclopedia) Farm Credit Administration (FCA), an independent agency of the executive branch of the federal government that supervises and regulates the Farm Credit System (FCS) for American…

loan

(Encyclopedia) loan, in business, sum of money borrowed at a particular interest rate. More generally, it refers to anything given on condition of its return or repayment of its equivalent. A loan…

Loan Processor

Tracy Manley What do you do? I work for HomeAmerican Mortgage -- the Mortgage Company for Richmond American Homes . I process mortgage loans…

discount

(Encyclopedia) discount, in banking and investment, fee for lending money, which the banker deducts from the loan when it is given. Thus, with a $1,000 loan at a 6% discount, the borrower receives $…

To obtain your credit report

Source: Federal Reserve Bank of Philadelphia. Web: www.phil.frb.org/consumers/creditreport.html. Just about everyone uses credit, whether it is for car, student, or bank loans; mortgages; or credit…

banking

(Encyclopedia) banking, primarily the business of dealing in money and instruments of credit. Banks were traditionally differentiated from other financial institutions by their principal functions of…

savings bank

(Encyclopedia) savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest…