Expedited Funds Availability Act
Definition of "Expedited funds availability act"
Legislation passed in 1988 by the U.S. Congress to facilitate movement of checks through the collection system. As the result of this Act, the Federal Reserve has established rules for the endorsement of checks stipulating that the endorsement must be within an area of VA inches from the left edge of the back of the check and no additional marks or notations can be made on the back of the check beyond this VA inch boundary.
Popular Insurance Terms
Statutory liabilities minus the interest MAINTENANCE RESERVE minus the ASSET VALUATION RESERVE. ...
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Modifications of the traditional defined benefit plan in which employees are credited with a specified percentage for each year of recognized service with the employer. Upon termination of ...
Same as term Blanket Position Bond: covers all employees of a business on a blanket basis with the maximumlimit of coverage applied separately to each employee guilty of a crime. ...
Privately formed insurance company whose objective is to make a profit. ...
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