Comaker or cosigner is a person who jointly signs a check, draft or any other negotiable instrument alongside a primary borrower of a loan. The comaker acts as a guarantor of the primary borrower and assumes liability. The comaker has a legal...
banking
comfort letter
Comfort letters are statements from an issuer’s auditor that the auditor reviewed the issuer’s financial data and assures its accuracy.
In public offerings, underwriters generally request comfort letters to establish a due...
commerce
Commerce refers generally to the activity of exchanging products, goods, and services for financial gain. The word commerce usually is used to mean economic activity broadly on a national or other large scale. Commerce can be used in many...
Commerce Clause
The Commerce Clause refers to Article 1, Section 8, Clause 3 of the U.S. Constitution, which gives Congress the power “to regulate commerce with foreign nations, among states, and with the Indian tribes.”
Congress has often...
committed credit facility
Committed credit facilities are a type of credit facility where the borrower and lender negotiate specific terms which, upon satisfaction by the borrower, obligate the lender to borrow the money. That is, if the borrower meets certain...
compound interest
Compound interest refers to interest earned on prior interest from an investment. This occurs where an investor continuously earns interest on an outstanding debt owed to them or an investment compounds in value. This is in contrast to simple...
comptroller
A comptroller is a senior executive who oversees the accounting and financial reporting of a business or government department. The comptroller is responsible for preparing financial reports and overseeing all accounting, including payroll,...
Comptroller of the Currency
The Comptroller of the Currency (“Comptroller”) is the administrator of the federal banking system and chief executive officer of the Office of the Comptroller of the Currency (“OCC”). The Comptroller also serves as a director of the Federal...
confession of judgment
A confession of judgment is a legal device - usually a clause within a contract - in which a debtor agrees to allow a creditor, upon the nonoccurrence of a payment, to obtain a judgment against the debtor, often without advanced notice or a...
conforming loan
A conforming loan is a mortgage that is below the conforming loan limit established by the Federal Housing Finance Agency (FHFA) and abides by other restrictions of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal...