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.Learn More
TEL (Telephone Initiated Entries)
A standard entry class code that enables the originator to initiate a single entry debit to a consumer’s account pursuant to a consumer’s oral authorization obtained over the telephone. This type of transaction may be used only in those instances where (1) there is an existing relationship between originator and consumer, or (2) in the absence of such relationship the consumer has been the party to initiate the call.
The effective rate shows the amount of volume a business pays in credit card processing fees to process a given amount. It is shown as a percentage,...Learn More