Chapter 13 Section 3 Flashcards
1
Q
Commercial Banks
A
A bank that offers general services to the general public and to companies.
2
Q
Savings and Loan Associations
A
A financial institute that specializes in accepting savings deposits and making mortgage and other loans.
3
Q
Mutual Savings Banks
A
A financial institution chartered by a central or regional government, without capital stock, that is owned by its members who subscribe to a common fund.
4
Q
Debit Card
A
A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
5
Q
Deregulation
A
The act or process of removing or reducing state regulations.
6
Q
Default
A
The failure to promptly pay interest or principle when due.
