Payment Glossary

DFA (Dodd-Frank Act)

The Dodd-Frank Act was made effective in 2010 to promote financial stability in the U.S. by increasing accountability and transparency.

Related Terms

  • PPD (Prearranged Payment and Deposit)

    A credit or debit entry to the account of a receiver where there is either a standing or one time written authorization that has been signed or...

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  • POS (Point-of-Sale)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. POS transactions are generally initiated with a...

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