Payment Glossary

Settlement Date

The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

Related Terms

  • Tokenization

    Tokenization replaces sensitive financial account information with a random string of characters, called a token. Learn More

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  • TILA (Truth in Lending Act)

    The Truth in Lending Act requires the full disclosure of finance charges and terms with regard to costs associated with borrowing.

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