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Merchant Account
An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.
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FDCPA (Fair Debt Collection Practices Act)
Approved in 1977, the Fair Debt Collection Practices Act allows for legal consumer protection against abusive debt collection practices.
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RDFI (Receiving Depository Financial Institutions)
A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.
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