Settlement Date

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

Related Terms

  • CFPB (Consumer Financial Protection Bureau)

    The Consumer Financial Protection Bureau (CFPB) is a government agency that is responsible for protecting consumers from questionable financial practices.

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  • Lockbox

    Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the...

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