Credit card fraud is a form of identity theft that involves an unauthorized taking of another’s credit card information for the purpose of charging purchases to the account or removing funds from it. Federal law, by way of 15 U.S.C. §1643,...
securities
credit default swap
A credit default swap (CDS) is a type of derivative contract in which two parties exchange the risk that some credit instrument will go into default. The buyer of a CDS agrees to make periodic payments to the seller. In exchange, the seller...
credit instrument
A credit instrument is a promissory note or other written evidence of a debt. Common examples include bonds, loans, checks, or invoices.
Credit instruments are used by governments, companies, and individuals alike.
...dealer
A dealer has two common definitions in the legal context:
A retailer who purchases goods or services for resale to consumers in a principal capacity. In securities law, a person who functions at least part time as an agent, broker, or...debenture
Debentures refer essentially to unsecured bonds within the United States. Corporations and governments use debentures as long term funding options, usually for major expansions and projects in the case of corporations. Debentures have set...
debt
Debt is a financial liability or obligation owed by one person, the debtor, to another, the creditor.
Debt is mainly composed of two elements: principal and interest. While debt can take many forms, the main variables by...
debtor
A debtor is someone who owes a debt or obligation to someone else. Most commonly, this is the obligation to pay money. A classic example is within the situation where a bank extends a loan to an individual or business entity, creating the...
defraud
To defraud broadly means trick or deceive someone at the expense of another for personal gain. In the legal sense, to defraud is to commit fraud that leads to civil or criminal liability.
In civil litigation, allegations of...
depository
A depository is the place where deposits are placed for safekeeping purposes. A depository oftentimes refers to banks, savings and loan institutions, credit union and trust companies. The term depository is also used to refer to institutions...
derivative
Derivative is a financial instrument whose value depends on the market value of some underlying asset. The parties to a derivative contract essentially make a bet on the value of the underlying asset. Depending on the change in value for the...