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banking
banking primarily the business of dealing in money and instruments of credit. Banks were traditionally differentiated from other financial institutions by their principal functions of accepting deposits—subject to withdrawal or transfer by check—and of making loans.
Types of Banks...
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Home Owners' Loan Corporation
Home Owners' Loan Corporation (HOLC), former U.S. government agency established in 1933 to help stabilize real estate that had depreciated during the depression and to refinance the urban mortgage debt. It granted long-term mortgage loans to some 1 million homeowners facing loss of their property. ...
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savings and loan association
savings and loan association type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public.
The first U.S. savings and loan association was founded in 1831. In 1932, the Federal Home Loan Bank System was ...
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loan
loan in business, sum of money borrowed at a particular interest rate. More generally, it refers to anything given on condition of its return or repayment of its equivalent. A loan may be acknowledged by a bond, a promissory note, or a mere oral promise to repay. Because of biblical injunctions aga...
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leveraged buyout
leveraged buyout the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. The acquiring company or group then repays the loans from the target company's profits or by selling its assets. Many lever...
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identity theft
identity theft the use of one person's personal information by another to commit fraud or other crimes. The most common forms of identity theft occur when someone obtains another person's social security number, driver's license number, date of birth, and the like and uses it to open a fraudulent b...
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microcredit
microcredit the extension to poor individuals of small loans to be used for income-generating activities that will improve the borrowers' living standards. The loans, which may be as little as $20 for very poor borrowers in some developing countries, typically are for a short term (a year or less),...
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Engelbert Dollfuss
Engelbert Dollfuss , 1892-1934, Austrian chancellor. A Christian Socialist, he rose to prominence as leader of the Lower Austrian Farmers' League and became minister of agriculture in 1931. Appointed chancellor in 1932, he obtained a badly needed international loan in return for a renewal of the ple...
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mortgage
mortgage in law, device for protecting a creditor by giving him an interest in property of his debtor. In common law a mortgage was a conditional sale; i.e., the mortgagor (debtor) sold realty (real property mortgage) or personal property (chattel mortgage), but if the debtor paid the debt by a...
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Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000 (temporarily increased to $250,000 from Oct., 2008, through Dec., 2009). The corporation was e...
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