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4.01 Financial Law Key Terms

AB
Bank Fraudact of obtaining credit, assets, money, funds, or securities under the custody of a financial institution through false pretenses
Electronic Fund Transfer ActProvides consumers gainst unauthorized electronic fund transactions including debit and credit card purchases, ATM withdrawals, and automatic bank account withdrawals
Federal Deposit Insurance ActCreated to maintain the public's confidence in banks and encourage stable banking practices
Home Equity Loan Consumer Protection ActRequires creditors to disclose the conditions, rates, and terms of home equity loan plans
Home EquityThe current market value of a home minus the remaining mortgage balance
Rights to Financial Privacy ActGrants consumers' personal financial records a reasonable amount of privacy from federal government searches
Thrift and Bank Fraud Actincreased the government's ability to combat bank fraud
EFTElectronic Funds Transfer - ways to transfer money via computer, smart phone, or any digital device
FDICFederal Deposit Insurance Act


Teacher
East Burke High School
Connelly Springs, NC

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