Accounting Test 2

Offer a full range of financial services, including checking, svaings, and lending, along with many other services.

specialized in savings accounts and loans for mortgages.

is owned by depositers and, like the traditional savings and loan association, specializes in savings accounts and mortgage loans.

A user owned, non-profit, cooperative financial institution that is organized for the benefit of its members.

are funds held in demand deposit accounts in commercial banks.[1] These account balances are usually considered money and form the greater part of the money supply of a country.

The dollar amount, which may or may not be borrowed, that a lender makes available to a borrower.

The debt-to-equity ratio is calculated by dividing your

One time loans are that the borrower pays back in a specified period of time and inpayments of equal amounts.

Loans are made on a continuous basis and you are billed periodically for at least partial payment.

is, in many countries, a record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy

is a way of attempting to acquire sensitive information such as usernames, passwords and credit card details by masquerading as a trustworthy entity in an electronic communication.

Bans discrimination in the extension of credit on the basis of race, color, age, sex, marital status, and otehr factors.

The five C's of credits are

The borrower's attitude toward his or her credit obligations.

the borrowers financial ability to meet credit obligations

The borrowers assets or net worth

a valuable asset that is pledged to ensure loan payments

The general economic conditions that can affect a borrower's ability to repay a loan.

Passed in 1975, sets procedures for promptly correcting billing mistakes, refusing to make credit card or revolving credit payments on defective goods, and promptly crediting your payments.

Prohibits abusive, deceptive, and unfair practices by debt collectors. Establishes procedures for debt collectors contacting a credit user. Restricts debt collector contacts with a third party. Specifies that payment for several debts be applied as the consumer wishes and that no money be applied to a debt in dispute.

A mathematical formula to determine how much interest has been paid at any point in a loan term.

A federal law that requires creditors to disclose the annual percentage rate and the finance charge as a dollar amount.

A local, nonprofit organization that provides debt counseling services for families and individuals with serious financial problems.