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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.
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E-Check (or echeck)
E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox payments, the paper check is not deposited, but converted into an ACH debit. Learn more about e-check payments here.
Related Terms
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
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