helpwithmybank.gov

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Definitions (232)

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estate account


An account held in the name of a decedent that is administered by an executor or administrator of the estate.
Source: helpwithmybank.gov

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previous balance


The cardholder's account balance as of the previous billing statement. See also Previous Balance
Source: helpwithmybank.gov

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account history


The payment history of an account over a specific period of time, including the number of times the account was past due or over limit.
Source: helpwithmybank.gov

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account holder


Any and all persons designated and authorized to transact business on behalf of an account. Each account holder's signature needs to be on file with the bank. The signature authorizes that person to conduct business on behalf of the account. See also Joint Account Holder
Source: helpwithmybank.gov

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accrued interest


Interest that has been earned but not yet paid. See also Interest-Bearing Accounts
Source: helpwithmybank.gov

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acquiring bank


In a merger, the bank that absorbs the bank acquired. See also Acquiring Bank
Source: helpwithmybank.gov

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adjustable-rate mortgages


Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans. The interest rate may change over the life of the loan as market conditions change.  
Source: helpwithmybank.gov

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adverse action


Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an unfavorable change in an existing account. See also Credit Disputes
Source: helpwithmybank.gov

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adverse action notice


The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder. See also Credit Disputes
Source: helpwithmybank.gov

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affidavit


A sworn statement in writing before a proper official, such as a notary public. See also Credit Disputes
Source: helpwithmybank.gov


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