12 CFR Part 621 – Accounting and Reporting Requirements
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Terms Used In 12 CFR Part 621 - Accounting and Reporting Requirements
- centralized offset: refer to the process by which the Treasury Department's Bureau of the Fiscal Service offsets Federal payments through the Treasury Offset Program. See 15 CFR 19.1
- Committee substitute: Short for committee amendment in the nature of a substitute.
- Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) Source: OCC
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- Oral argument: An opportunity for lawyers to summarize their position before the court and also to answer the judges' questions.