Payment Glossary

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.

Related Terms

  • ACK (ACH Payment Acknowledgement)

    An ACK entry is an acknowledgement by the receiving depository financial institution (RDFI) confirming the receipt of a corporate credit or debit (CCD) credit entry.

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  • AAP

    An accredited ACH professional certified by the National Automated Clearing House Association (NACHA).

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