Payment Glossary

Settlement Date

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

Related Terms

  • ACH Operator

    ACH operator is the term used to describe the switching mechanism within the settlement network that provides information to the network participants. The ACH operator calculates the...

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  • TCPA (Telephone Consumer Protection Act)

    The Telephone Consumer Protection Act limits the amount of telemarketing and overall use of automated phone calls. The act applies to automated phone calls (including pre-recorded messages),...

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