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ACH Debit
An ACH debit occurs when the receiver’s account is debited.
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Settlement Date
The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.
Related Terms
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OTS (Office of Thrift Supervision)
The Office of Thrift Supervision, between 1989 and 2011, was a federal agency that regulated all savings banks (chartered and state-chartered), savings associations, and loans associations.
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