Banking Terms and Definitions: From Subprime Lenders to Community Reinvestment Act, Quizzes of Economics

Download Banking Terms and Definitions: From Subprime Lenders to Community Reinvestment Act and more Quizzes Economics in PDF only on Docsity! TERM 1 Subprime Lenders DEFINITION 1 companies that lend to people with weak credit histories that have trouble getting loans TERM 2 Money-center Bank DEFINITION 2 commercial bank located in a major financial center that raises funds primarily by borrowing from other banks or by issuing bonds TERM 3 Regional Bank DEFINITION 3 commercial bank with assets above $1 billion that operates in one geographic region TERM 4 Superregional Bank DEFINITION 4 commercial bank with assets above $1 billion that operates across most of the United States TERM 5 Community Bank DEFINITION 5 commercial bank with less than $1 billion in assets that operates in a small geographic area TERM 6 Thrift Institutions DEFINITION 6 savings institutions and credit unions take deposits and make loans TERM 7 Savings Institution DEFINITION 7 type of bank created to accept savings deposits and make loans for home mortgages also known as: savings banks or loan associations TERM 8 Credit Union DEFINITION 8 nonprofit bank owned by its depositor members who are drawn from a group of people with something in common TERM 9 Finance Company DEFINITION 9 non-bank financial institution that makes loans but does not accept deposits raise funds by issuing bonds and borrowing from banks TERM 10 Bank Charter DEFINITION 10 government license to operate a bank