financial services

financial guardian

A financial guardian, also referred to as a guardian of the estate, is a person who is lawfully entrusted with the responsibility of taking care of the property of someone who is unable to do so because of infancy, incapacity, or disability....

financial institution

A financial Institution is defined in 18 U.S. Code § 20 as an entity, national or international, that deals primarily in business related to financial or/and monetary transactions, namely loans, deposits, investments, currency exchange, or...

financial institution fraud

Financial Institution Fraud (FIF) is a wide category of fraud or embezzlement which occurs within or against financial institutions.

Under 18 U.S. Code § 1344, the bank fraud statute, it is a federal crime to defraud a...

financial instrument

A financial instrument is an instrument that has monetary value or records a monetary transaction or any contract that imposes on one party a financial liability and represents to the other a financial asset or equity instrument.

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financial statements

Financial statements are reports that contain and summarize financial and accounting information about a business and that provide information regarding the financial position and performance of an entity throughout a specific accounting...

fiscal year accounting period

Fiscal year accounting period is defined as a period of 12 months that a company uses for its accounting purposes; for example, reporting its spending and income. It helps in preparation of company financial statements. It is measured by the...

fixed annuity

A fixed annuity is a type of annuity where the insurance company agrees to pay a specific periodic amount to the policy holder no matter the outcome of their investments. This is to be contrasted with variable annuities where payment amounts...

fixed rate mortgage

Fixed rate mortgages are the common method for purchasing homes with an interest rate that stays the same throughout the loan. These loans often are made for 15, 20, or 30 years, and while the monthly payments never change, the monthly...

flexible savings account (FSA)

A Flexible Savings Account (FSA) is a special type of account usually funded through a voluntary salary reduction agreement between an employee and its employer. Under such an agreement, the employee contributes to the FSA by allowing their...

floating lien

A floating lien is a security interest in a group of assets owned by a business that change in quantity and value through the course of business. Floating liens allow a business to obtain loans and provide as the collateral a general security...

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