Existing Relationship

There is an existing relationship between an originator and a receiver when there is either a written agreement in place or when the receiver has purchased goods or services from the receiver within the past two year.

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.

    Learn More

  • Settlement Date

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

    Learn More