Terms Used In U.S. Code > Title 16 > Chapter 3B

• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• affiliate: means any company that controls, is controlled by, or is under common control with another company. See 10 USC 14104
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 19 USC 2295
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• consumer: means an individual who obtains, from a financial institution, financial products or services which are to be used primarily for personal, family, or household purposes, and also means the legal representative of such an individual. See 10 USC 14104
• Corporation: means the Federal Home Loan Mortgage Corporation created by this chapter. See 10 USC 8772
• county: includes a parish, or any other equivalent subdivision of a State or Territory of the United States. See 19 USC 2292
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Federal functional regulator: means --

  (A) the Board of Governors of the Federal Reserve System. See 10 USC 14104

• Fiduciary: A trustee, executor, or administrator.
• financial institution: means any institution the business of which is engaging in financial activities as described in section 1843(k) of title 12. See 10 USC 14104
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• law: includes any law of the United States or of any State (including any rule of law or of equity). See 10 USC 8772
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• nonaffiliated third party: means any entity that is not an affiliate of, or related by common ownership or affiliated by corporate control with, the financial institution, but does not include a joint employee of such institution. See 10 USC 14104
• nonpublic personal information: means personally identifiable financial information--

  (i) provided by a consumer to a financial institution. See 10 USC 14104

• organization: means any corporation, partnership, association, business trust, or business entity. See 10 USC 8772
• prescribe: means to prescribe by regulations or otherwise. See 10 USC 8772
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• security: has the meaning ascribed to it by section 77b of title 15. See 10 USC 8772
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: includes Puerto Rico, Guam, American Samoa, the Northern Mariana Islands, and the Virgin Islands. See 10 USC 14001
• State insurance authority: means , in the case of any person engaged in providing insurance, the State insurance authority of the State in which the person is domiciled. See 10 USC 14104
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Trustee: A person or institution holding and administering property in trust.
• 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.