Schumer Box – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is the Schumer Box?How Does the Schumer Box Work? What is the Schumer Box?A Schumer box refers to a table or box that contains the summary of the costs (fees and rates) and conditions (terms) of a credit card in the United States. The...

Expedited Funds Availability Act – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is the Expedited Funds Availability Act?How Does the Expedited Funds Availability Act Work?Hold Types Allowed Under EFAAStatutory HoldsLarge Deposit HoldsNew Account HoldsException HoldsInsurance Checks What is the Expedited Funds...

Bank Investment Contract – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Bank Investment Contract?How Does a Bank Investment Contract Work? What is a Bank Investment Contract?A Bank Investment Contract is an agreement between a bank and an investor whereby the bank provides a guaranteed rate of return in...

Building and Loan Association – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Building and Loan Association?How Does a Building and Loan Association Work?Federal Savings vs. Loan Associations What is a Building and Loan Association?Building and loan association is a state-chartered financial organization that...

Depository Trust & Clearing Corporation – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is a Depository Trust & Clearing Corporation?How Does the Depository Trust & Clearing Corporation Work?Key Functions of DTCCHistory of the Depository Trust and Clearing Corporation What is a Depository Trust & Clearing...

Financial Institutions Regulatory Act – Explained

by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry

Update Table of Contents What is the Financial Institutions Regulatory Act?How Does the Financial Institutions Regulatory Act Work?The Central Liquidity Facility What is the Financial Institutions Regulatory Act?The Financial Institutions Regulatory and Interest Rate...