Subchapter I Consumer Credit Cost Disclosure
Subchapter II Restrictions On Garnishment
Subchapter II–A Credit Repair Organizations
Subchapter III Credit Reporting Agencies
Subchapter IV Equal Credit Opportunity
Subchapter V Debt Collection Practices
Subchapter VI Electronic Fund Transfers

Terms Used In U.S. Code > Title 15 > Chapter 41

  • account: means a demand deposit, savings deposit, or other asset account (other than an occasional or incidental credit balance in an open end credit plan as defined in section 1602(i) 1 of this title), as described in regulations of the Bureau, established primarily for personal, family, or household purposes, but such term does not include an account held by a financial institution pursuant to a bona fide trust agreement. See 49 USC 46305
  • Acquittal:
    1. Judgement that a criminal defendant has not been proved guilty beyond a reasonable doubt.
    2. A verdict of "not guilty."
     
  • Administration: means the National Credit Union Administration. See 42 USC 254f–1
  • Advisory board: means a board, whether elected or appointed, which is distinct from the board of directors or board of trustees, of an investment company, and which is composed solely of persons who do not serve such company in any other capacity, whether or not the functions of such board are such as to render its members "directors" within the definition of that term, which board has advisory functions as to investments but has no power to determine that any security or other investment shall be purchased or sold by such company. See 49 USC 11162
  • Allegation: something that someone says happened.
  • Amortization: Paying off a loan by regular installments.
  • Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. Source: FDIC
  • archaeological resource: means any material remains of past human life or activities which are of archaeological interest, as determined under uniform regulations promulgated pursuant to this chapter. See 49 USC 20144
  • Arrest: Taking physical custody of a person by lawful authority.
  • Asset: means property of a debtor, but does not include--

    (A) property to the extent it is encumbered by a valid lien. See 28 USC 3301

  • Assignment: includes any direct or indirect transfer or hypothecation of an investment advisory contract by the assignor or of a controlling block of the assignor's outstanding voting securities by a security holder of the assignor. See 49 USC 20141
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bank: means (A) a depository institution (as defined in section 1813 of title 12) or a branch or agency of a foreign bank (as such terms are defined in section 3101 of title 12), (B) a member bank of the Federal Reserve System, (C) any other banking institution or trust company, whether incorporated or not, doing business under the laws of any State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to national banks under the authority of the Comptroller of the Currency, and which is supervised and examined by State or Federal authority having supervision over banks, and which is not operated for the purpose of evading the provisions of this subchapter, and (D) a receiver, conservator, or other liquidating agent of any institution or firm included in clauses (A), (B), or (C) of this paragraph. See 49 USC 11162
  • Bank: means (A) a banking institution organized under the laws of the United States or a Federal savings association, as defined in section 1462(5) of title 12, (B) a member bank of the Federal Reserve System, (C) any other banking institution, savings association, as defined in section 1462(4) of title 12, or trust company, whether incorporated or not, doing business under the laws of any State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to national banks under the authority of the Comptroller of the Currency, and which is supervised and examined by State or Federal authority having supervision over banks or savings associations, and which is not operated for the purpose of evading the provisions of this subchapter, and (D) a receiver, conservator, or other liquidating agent of any institution or firm included in clauses (A), (B), or (C) of this paragraph. See 49 USC 20141
  • Bequest: Property gifted by will.
  • Board: means the Board of Governors of the Federal Reserve System. See 49 USC 46305
  • Board: means the Merit Systems Protection Board under chapter 12 of title 5. See 49 USC 44903
  • Board: means the National Credit Union Administration Board. See 42 USC 254f–1
  • Board: means the United States Metric Board, established under section 205d of this title. See 49 USC 30103
  • borrow: includes a sale coupled with a similar agreement. See 49 USC 11162
  • branch: includes any branch credit union, branch office, branch agency, additional office, or any branch place of business located in any State of the United States, the District of Columbia, the several territories, including the trust territories, and possessions of the United States, the Panama Canal Zone, or the Commonwealth of Puerto Rico, at which member accounts are established or money lent. See 42 USC 254f–1
  • Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
  • Bureau: means the Bureau of Consumer Financial Protection. See 49 USC 46305
  • Bureau: means the Bureau of Consumer Financial Protection. See 49 USC 45304
  • business day: means any day on which the offices of the consumer's financial institution involved in an electronic fund transfer are open to the public for carrying on substantially all of its business functions. See 49 USC 46305
  • Business development company: means any closed-end company which--

    (A) is organized under the laws of, and has its principal place of business in, any State or States. See 49 USC 11162

  • Business development company: means any company which is a business development company as defined in section 80a-2(a)(48) of this title and which complies with section 80a-54 of this title, except that--

    (A) the 70 per centum of the value of the total assets condition referred to in sections 80a-2(a)(48) and 80a-54 of this title shall be 60 per centum for purposes of determining compliance therewith. See 49 USC 20141

  • Chairman: means the Chairman of the National Advisory Council on International Monetary and Financial Policies. See 26 USC 4218
  • Chairman: means the Chairman of the National Credit Union Administration Board. See 42 USC 254f–1
  • Chambers: A judge's office.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
  • Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. See 28 USC 3301
  • Commission: means the Securities and Exchange Commission. See 49 USC 11162
  • Commission: means the Securities and Exchange Commission. See 49 USC 20141
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • communication: means the conveying of information regarding a debt directly or indirectly to any person through any medium. See 49 USC 45304
  • Company: means a corporation, a partnership, an association, a joint-stock company, a trust, a fund, or any organized group of persons whether incorporated or not. See 49 USC 11162
  • Company: means a corporation, a partnership, an association, a joint-stock company, a trust, or any organized group of persons, whether incorporated or not. See 49 USC 20141
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • consumer: means any natural person obligated or allegedly obligated to pay any debt. See 49 USC 45304
  • consumer: means a natural person. See 49 USC 46305
  • consumer information: means any action or program that provides information to consumers and other persons on appropriate uses under varied circumstances, and on the care and handling, of cut flowers or cut greens. See 16 USC 460nnn–24
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Control: means the power to exercise a controlling influence over the management or policies of a company, unless such power is solely the result of an official position with such company. See 49 USC 11162
  • Convicted: includes a verdict, judgment, or plea of guilty, or a finding of guilt on a plea of nolo contendere, if such verdict, judgment, plea, or finding has not been reversed, set aside, or withdrawn, whether or not sentence has been imposed. See 49 USC 11162
  • Convicted: includes a verdict, judgment, or plea of guilty, or a finding of guilt on a plea of nolo contendere, if such verdict, judgment, plea, or finding has not been reversed, set aside, or withdrawn, whether or not sentence has been imposed. See 49 USC 20141
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Counsel for the United States: means --

    (A) a United States attorney, an assistant United States attorney designated to act on behalf of the United States attorney, or an attorney with the United States Department of Justice or with a Federal agency who has litigation authority. See 28 USC 3002

  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 19 USC 2292
  • Court: means any court created by the Congress of the United States, excluding the United States Tax Court. See 28 USC 3002
  • covered employee: means any employee of an employing office. See 49 USC 44903
  • 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
  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
  • creditor: means any person who offers or extends credit creating a debt or to whom a debt is owed, but such term does not include any person to the extent that he receives an assignment or transfer of a debt in default solely for the purpose of facilitating collection of such debt for another. See 49 USC 45304
  • Creditor: means a person who has a claim. See 28 USC 3301
  • cut flowers: includes all flowers cut from growing plants that are used as fresh-cut flowers and that are produced under cover or in field operations. See 16 USC 460nnn–24
  • cut greens: includes all cultivated or noncultivated decorative foliage cut from growing plants that are used as fresh-cut decorative foliage (except Christmas trees) and that are produced under cover or in field operations. See 16 USC 460nnn–24
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • debt: means any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance, or services which are the subject of the transaction are primarily for personal, family, or household purposes, whether or not such obligation has been reduced to judgment. See 49 USC 45304
  • Debt: means --

    (A) an amount that is owing to the United States on account of a direct loan, or loan insured or guaranteed, by the United States. See 28 USC 3002

  • debt collector: means any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another. See 49 USC 45304
  • Debtor: means a person who is liable for a debt or against whom there is a claim for a debt. See 28 USC 3002
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Devise: To gift property by will.
  • Director: means any director of a corporation or any person performing similar functions with respect to any organization, whether incorporated or unincorporated, including any natural person who is a member of a board of trustees of a management company created as a common-law trust. See 49 USC 11162
  • Director: means any director of a corporation or any person performing similar functions with respect to any organization, whether incorporated or unincorporated. See 49 USC 20141
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Disposable earnings: means that part of earnings remaining after all deductions required by law have been withheld. See 28 USC 3002
  • Docket: A log containing brief entries of court proceedings.
  • Earnings: means compensation paid or payable for personal services, whether denominated as wages, salary, commission, bonus, or otherwise, and includes periodic payments pursuant to a pension or retirement program. See 28 USC 3002
  • electronic fund transfer: means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, or computer or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. See 49 USC 46305
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • electronic terminal: means an electronic device, other than a telephone operated by a consumer, through which a consumer may initiate an electronic fund transfer. See 49 USC 46305
  • Eligible portfolio company: means any issuer which--

    (A) is organized under the laws of, and has its principal place of business in, any State or States. See 49 USC 11162

  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • employee: includes an applicant for employment and a former employee. See 49 USC 44903
  • employing office: means --

    (A) each office, agency, or other component of the Executive Office of the President. See 49 USC 44903

  • Ex officio: Literally, by virtue of one's office.
  • Exchange: means any organization, association, or group of persons, whether incorporated or unincorporated, which constitutes, maintains, or provides a market place or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange as that term is generally understood, and includes the market place and the market facilities maintained by such exchange. See 49 USC 11162
  • Exchange: means any organization, association, or group of persons, whether incorporated or unincorporated, which constitutes, maintains, or provides a market place or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange as that term is generally understood, and includes the market place and the market facilities maintained by such exchange. See 49 USC 20141
  • Executive session: A portion of the Senate's daily session in which it considers executive business.
  • Executor: A male person named in a will to carry out the decedent
  • exempt handler: means a person who would otherwise be considered to be a qualified handler, except that the annual sales by the person of cut flowers and cut greens to retailers and other exempt handlers are less than $750,000. See 16 USC 460nnn–24
  • Face-amount certificate: means any certificate, investment contract, or other security which represents an obligation on the part of its issuer to pay a stated or determinable sum or sums at a fixed or determinable date or dates more than twenty-four months after the date of issuance, in consideration of the payment of periodic installments of a stated or determinable amount (which security shall be known as a face-amount certificate of the "installment type"). See 49 USC 11162
  • Federal credit union: means a cooperative association organized in accordance with the provisions of this chapter for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes. See 42 USC 254f–1
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal land manager: means , with respect to any public lands, the Secretary of the department, or the head of any other agency or instrumentality of the United States, having primary management authority over such lands. See 49 USC 20144
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • financial institution: means a State or National bank, a State or Federal savings and loan association, a mutual savings bank, a State or Federal credit union, or any other person who, directly or indirectly, holds an account belonging to a consumer. See 49 USC 46305
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • foreign commerce: as used in this title , includes commerce with a foreign country. See 40 USC 5103
  • Foreign financial regulatory authority: means any (A) foreign securities authority, (B) other governmental body or foreign equivalent of a self-regulatory organization empowered by a foreign government to administer or enforce its laws relating to the regulation of fiduciaries, trusts, commercial lending, insurance, trading in contracts of sale of a commodity for future delivery, or other instruments traded on or subject to the rules of a contract market, board of trade or foreign equivalent, or other financial activities, or (C) membership organization a function of which is to regulate the participation of its members in activities listed above. See 49 USC 20141
  • foreign private adviser: means any investment adviser who--

    (A) has no place of business in the United States. See 49 USC 20141

  • Foreign securities authority: means any foreign government, or any governmental body or regulatory organization empowered by a foreign government to administer or enforce its laws as they relate to securities matters. See 49 USC 20141
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud Alert: A key provision of the Fair and Accurate Credit Transactions Act of 2003 is the consumer's ability to place a fraud alert on their credit record. A consumer would use this option if they believe they were a victim of identity theft. Source: OCC
  • Garnishee: means a person (other than the debtor) who has, or is reasonably thought to have, possession, custody, or control of any property in which the debtor has a substantial nonexempt interest, including any obligation due the debtor or to become due the debtor, and against whom a garnishment under section 3104 or 3205 is issued by a court. See 28 USC 3002
  • 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
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • gross sales price: means the total amount of the transaction in a sale of cut flowers or cut greens from a handler to a retailer or exempt handler. See 16 USC 460nnn–24
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • importer: has the meaning provided in section 6804(b)(2)(B)(i)(I) of this title. See 16 USC 460nnn–24
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Indian lands: means lands of Indian tribes, or Indian individuals, which are either held in trust by the United States or subject to a restriction against alienation imposed by the United States, except for any subsurface interests in lands not owned or controlled by an Indian tribe or an Indian individual. See 49 USC 20144
  • Indian tribe: means any Indian tribe, band, nation, or other organized group or community, including any Alaska Native village or regional or village corporation as defined in, or established pursuant to, the Alaska Native Claims Settlement Act (85 Stat. See 49 USC 20144
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Insider: includes --

    (A) if the debtor is an individual--

    (i) a relative of the debtor or of a general partner of the debtor. See 28 USC 3301

  • insured credit union: means any credit union the member accounts of which are insured in accordance with the provisions of subchapter II of this chapter, and the term "noninsured credit union" means any credit union the member accounts of which are not so insured. See 42 USC 254f–1
  • international financial institutions: means the International Monetary Fund, International Bank for Reconstruction and Development, European Bank for Reconstruction and Development, International Development Association, International Finance Corporation, Multilateral Investment Guarantee Agency, African Development Bank, African Development Fund, Asian Development Bank, Inter-American Development Bank 2 Bank for Economic Cooperation and Development in the Middle East and North Africa,,3 and Inter-American Investment Corporation. See 26 USC 4218
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • Interstate commerce: means trade, commerce, transportation, or communication among the several States, or between any foreign country and any State, or between any State and any place or ship outside thereof. See 49 USC 20141
  • investment adviser: includes any bank or bank holding company to the extent that such bank or bank holding company serves or acts as an investment adviser to a registered investment company, but if, in the case of a bank, such services or actions are performed through a separately identifiable department or division, the department or division, and not the bank itself, shall be deemed to be the investment adviser. See 49 USC 20141
  • investment company: means any issuer which--

    (A) is or holds itself out as being engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, or trading in securities. See 49 USC 11163

  • Investment supervisory services: means the giving of continuous advice as to the investment of funds on the basis of the individual needs of each client. See 49 USC 20141
  • Issuer: means every person who issues or proposes to issue any security, or has outstanding any security which it has issued. See 49 USC 11162
  • issuer: shall include in addition to an issuer, any person directly or indirectly controlling or controlled by the issuer, or any person under direct or indirect common control with the issuer. See 49 USC 20141
  • Judgment: means a judgment, order, or decree entered in favor of the United States in a court and arising from a civil or criminal proceeding regarding a debt. See 28 USC 3002
  • Late-payment fee: The fee that will be imposed when your payment is late. Source: Federal Reserve
  • Legacy: A gift of property made by will.
  • Lien: means a charge against or an interest in property to secure payment of a debt and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common law lien, or a statutory lien. See 28 USC 3301
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lineal descendant: Direct descendant of the same ancestors.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • location information: means a consumer's place of abode and his telephone number at such place, or his place of employment. See 49 USC 45304
  • Magistrate judges: Judicial officers who assist U.S. district judges in getting cases ready for trial, who may decide some criminal and civil trials when both parties agree to have the case heard by a magistrate judge instead of a judge.
  • Majority leader: see Floor Leaders
  • Means or instrumentality of interstate commerce: includes any facility of a national securities exchange. See 49 USC 20141
  • metric system of measurement: means the International System of Units as established by the General Conference of Weights and Measures in 1960 and as interpreted or modified for the United States by the Secretary of Commerce. See 49 USC 30103
  • Minimum finance charge: The minimum, or fixed, finance charge that will be imposed during a billing cycle. A minimum finance charge usually applies only when a finance charge is imposed, that is, when you carry over a balance. Source: Federal Reserve
  • Minority leader: See Floor Leaders
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • National securities exchange: means an exchange registered under section 6 of the Securities Exchange Act of 1934 [15 U. See 49 USC 11162
  • National securities exchange: means an exchange registered under section 6 of the Securities Exchange Act of 1934 [15 U. See 49 USC 20141
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Nonexempt disposable earnings: means 25 percent of disposable earnings, subject to section 303 of the Consumer Credit Protection Act. See 28 USC 3002
  • nuclear materials and equipment: means source material, special nuclear material, production facilities, utilization facilities, and components, items or substances determined to have significance for nuclear explosive purposes pursuant to subsection 109b 1 of the 1954 Act [42 U. See 29 USC 720
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • order: means an order issued under this chapter (other than sections 6808, 6809, and 6811 of this title). See 16 USC 460nnn–24
  • organization: means a person other than an individual. See
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: means any individual, group of individuals, firm, partnership, corporation, joint stock company, association, society, cooperative, or other legal entity. See 16 USC 460nnn–24
  • Person: includes a natural person (including an individual Indian), a corporation, a partnership, an unincorporated association, a trust, or an estate, or any other public or private entity, including a State or local government or an Indian tribe. See 28 USC 3002
  • Person: means a natural person or a company. See 49 USC 11162
  • Person: means a natural person or a company. See 49 USC 20141
  • person associated with an investment adviser: means any partner, officer, or director of such investment adviser (or any person performing similar functions), or any person directly or indirectly controlling or controlled by such investment adviser, including any employee of such investment adviser, except that for the purposes of section 80b-3 of this title (other than subsection (f) thereof), persons associated with an investment adviser whose functions are clerical or ministerial shall not be included in the meaning of such term. See 49 USC 20141
  • petty offense: means a Class B misdemeanor, a Class C misdemeanor, or an infraction, for which the maximum fine is no greater than the amount set forth for such an offense in section 3571(b)(6) or (7) in the case of an individual or section 3571(c)(6) or (7) in the case of an organization. See
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
  • preauthorized electronic fund transfer: means an electronic fund transfer authorized in advance to recur at substantially regular intervals. See 49 USC 46305
  • Preauthorized electronic fund transfers: An EFT authorized in advance to recur at substantially regular intervals. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Presentence report: A report prepared by a court's probation officer, after a person has been convicted of an offense, summarizing for the court the background information needed to determine the appropriate sentence. Source: U.S. Courts
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • private fund: means an issuer that would be an investment company, as defined in section 3 of the Investment Company Act of 1940 (15 U. See 49 USC 20141
  • Private law: A private bill enacted into law. Private laws have restricted applicability, often addressing immigration and naturalization issues affecting individuals.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
  • producer: has the meaning provided in section 6804(b)(2)(B)(ii)(I) of this title. See 16 USC 460nnn–24
  • PromoFlor Council: means the Fresh Cut Flowers and Fresh Cut Greens Promotion Council established under section 6804(b) of this title. See 16 USC 460nnn–24
  • promotion: means any action determined by the Secretary to advance the image, desirability, or marketability of cut flowers or cut greens, including paid advertising. See 16 USC 460nnn–24
  • Property: includes any present or future interest, whether legal or equitable, in real, personal (including choses in action), or mixed property, tangible or intangible, vested or contingent, wherever located and however held (including community property and property held in trust (including spendthrift and pension trusts)), but excludes--

    (A) property held in trust by the United States for the benefit of an Indian tribe or individual Indian. See 28 USC 3002

  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • public lands: means --

    (A) lands which are owned and administered by the United States as part of--

    (i) the national park system,

    (ii) the national wildlife refuge system, or

    (iii) the national forest system. See 49 USC 20144

  • qualified handler: includes --

    (aa) bouquet manufacturers (subject to paragraph (2)(B)). See 16 USC 460nnn–24

  • Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. Source: OCC
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Reorganization: means (A) a reorganization under the supervision of a court of competent jurisdiction. See 49 USC 11162
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • research: means market research and studies limited to the support of advertising, market development, and other promotion efforts and consumer information efforts relating to cut flowers or cut greens, including educational activities. See 16 USC 460nnn–24
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • retailer: includes a distribution center that is--

    (I) owned or controlled by a person described in subparagraph (A), or owned or controlled cooperatively by a group of the persons, if the predominant retail business activity of the person is not floral sales. See 16 USC 460nnn–24

  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Secretary: means the Secretary of Agriculture. See 16 USC 460nnn–24
  • Secretary: means the Secretary of Health and Human Services. See 42 USC 201
  • Security: means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security" or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing. See 49 USC 11162
  • Security: means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security" or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guaranty of, or warrant or right to subscribe to or purchase any of the foregoing. See 49 USC 20141
  • Security agreement: means an agreement that creates or provides for a lien. See 28 USC 3002
  • Sentencing guidelines: A set of rules and principles established by the United States Sentencing Commission that trial judges use to determine the sentence for a convicted defendant. Source: U.S. Courts
  • Service: means the Public Health Service. See 42 USC 201
  • Service of process: The service of writs or summonses to the appropriate party.
  • special maritime and territorial jurisdiction of the United States: as used in this title , includes:

    (1) The high seas, any other waters within the admiralty and maritime jurisdiction of the United States and out of the jurisdiction of any particular State, and any vessel belonging in whole or in part to the United States or any citizen thereof, or to any corporation created by or under the laws of the United States, or of any State, Territory, District, or possession thereof, when such vessel is within the admiralty and maritime jurisdiction of the United States and out of the jurisdiction of any particular State. See 40 USC 3708

  • State: means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing. See 49 USC 45304
  • State: means any of the fifty States, the District of Columbia, Puerto Rico, Guam, and the Virgin Islands. See 49 USC 20144
  • State: includes Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, and the Virgin Islands. See 49 USC 30125
  • State: means any State, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any political subdivision of any of the foregoing. See 49 USC 46305
  • State: means each of the several States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, the United States Virgin Islands, Guam, American Samoa, the Republic of the Marshall Islands, the Federated States of Micronesia, and the Republic of Palau (until such time as the Compact of Free Association is ratified). See 16 USC 460nnn–24
  • State: shall include each of the several States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territory of the Pacific Islands. See 14 USC 252
  • State: means any of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Marianas, or any territory or possession of the United States. See 28 USC 3002
  • State: means any State of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, or any other possession of the United States. See 49 USC 11162
  • State: includes , in addition to the several States, only the District of Columbia, Guam, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, American Samoa, and the Trust Territory of the Pacific Islands. See 42 USC 201
  • State: means any State of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, or any other possession of the United States. See 49 USC 20141
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • subscription: includes a mark when the person making the same intended it as such. See 19 USC 2291
  • Summons: Another word for subpoena used by the criminal justice system.
  • Supervised person: means any partner, officer, director (or other person occupying a similar status or performing similar functions), or employee of an investment adviser, or other person who provides investment advice on behalf of the investment adviser and is subject to the supervision and control of the investment adviser. See 49 USC 20141
  • Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See 28 USC 3301
  • Treaty: means the Treaty on the Non-Proliferation of Nuclear Weapons. See 29 USC 720
  • unauthorized electronic fund transfer: means an electronic fund transfer from a consumer's account initiated by a person other than the consumer without actual authority to initiate such transfer and from which the consumer receives no benefit, but the term does not include any electronic fund transfer (A) initiated by a person other than the consumer who was furnished with the card, code, or other means of access to such consumer's account by such consumer, unless the consumer has notified the financial institution involved that transfers by such other person are no longer authorized, (B) initiated with fraudulent intent by the consumer or any person acting in concert with the consumer, or (C) which constitutes an error committed by a financial institution. See 49 USC 46305
  • Underwriter: means any person who has purchased from an issuer with a view to, or sells for an issuer in connection with, the distribution of any security, or participates or has a direct or indirect participation in any such undertaking, or participates or has a participation in the direct or indirect underwriting of any such undertaking. See 49 USC 11162
  • Underwriter: means any person who has purchased from an issuer with a view to, or sells for an issuer in connection with, the distribution of any security, or participates or has a direct or indirect participation in any such undertaking, or participates or has a participation in the direct or indirect underwriting of any such undertaking. See 49 USC 20141
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: means the States collectively. See 16 USC 460nnn–24
  • United States: as used in this title in a territorial sense, includes all places and waters, continental or insular, subject to the jurisdiction of the United States, except the Canal Zone. See 40 USC 3706
  • United States: means --

    (A) a Federal corporation. See 28 USC 3002

  • United States marshal: means a United States marshal, a deputy marshal, or an official of the United States Marshals Service designated under section 564. See 28 USC 3002
  • User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Valid lien: means a lien that is effective against the holder of a judicial lien subsequently obtained in legal or equitable proceeding. See 28 USC 3301
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Variable-rate information: Information about how the variable rate will be determined (if relevant). More information may be stated outside the disclosure box--for instance, in a footnote. Source: Federal Reserve
  • vehicle: includes every description of carriage or other artificial contrivance used, or capable of being used, as a means of transportation on land. See 19 USC 2294
  • Venue: The geographical location in which a case is tried.
  • Verdict: The decision of a petit jury or a judge.
  • vessel: includes every description of watercraft or other artificial contrivance used, or capable of being used, as a means of transportation on water. See 19 USC 2293
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • whoever: include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. See 19 USC 2291
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.