What Is an On-Us Item? An on-us item is a check or draft that is presented to the bank where the check writer has the funds on deposit, as opposed to the depositor’s bank (although in some cases both check writer and depositor may happen to use the same bank).
What Is a Merchant Account? A merchant account is a type of business bank account that allows a business to accept and process electronic payment card transactions. Merchant accounts require a business to partner with a merchant acquiring bank who facilitates all communications in an electronic payment transaction. Merchant account
What Is a Covenant-Lite Loan? A covenant-lite loan is a type of financing that is issued with fewer restrictions on the borrower and fewer protections for the lender. By contrast, traditional loans generally have protective covenants built into the contract for the safety of the lender, including financial maintenance tests that
What Is an Acceleration Clause? An acceleration clause is a contract provision that allows a lender to require a borrower to repay all of an outstanding loan if certain requirements are not met. An acceleration clause outlines the reasons that the lender can demand loan repayment and the repayment required.
What Is a Federal Credit Union? A federal credit union (FCU) is a credit union regulated and supervised by the National Credit Union Association (NCUA). The NCUA is a federal government agency with authority designated by the Federal Credit Union Act of 1934 to oversee the national credit union system
What Are 6 Drawbacks of Working for Your Parents? From the moment you were born, you were on your career path. Now that you’ve graduated from college and earned your degree, the time has come. Unlike your peers who have a long hard road of online applications and job interviews
How should investors assess risk in the stocks that they buy or sell? While the concept of risk is hard to factor in stock analysis and valuation, one of the most popular indicators is a statistical measure called beta. Analysts use it often when they want to determine a stock’s risk
Shares of The Kroger Company (KR) rose nearly 6% during after-hours trading on Friday after Warren Buffett’s Berkshire Hathaway Inc. (BRK.A) disclosed that it purchased about 19 million shares worth over a half billion dollars – representing about 2.3% of outstanding shares. While the billionaire investor hasn’t offered any commentary,
Drug distributor stocks capped off a volatile trading session Friday by finishing mostly unchanged after The Wall Street Journal reported that 21 states had rejected a proposed $18 billion settlement deal offered by three leading drug wholesalers for their alleged roles in contributing to the nation’s opioid crisis. The group