Deposit-Taking Activity [Banks & Banking] Law and Legal Definition
Pursuant to 12 USCS § 5481 (8) [Title 12. Banks and Banking; Chapter 53. Wall Street Reform and Consumer Protection; Bureau of Consumer Financial Protection], the term deposit-taking activity means--
“(A) the acceptance of deposits, maintenance of deposit accounts, or the provision of services related to the acceptance of deposits or the maintenance of deposit accounts;
(B) the acceptance of funds, the provision of other services related to the acceptance of funds, or the maintenance of member share accounts by a credit union; or
(C) the receipt of funds or the equivalent thereof, as the Bureau may determine by rule or order, received or held by a covered person (or an agent for a covered person) for the purpose of facilitating a payment or transferring funds or value of funds between a consumer and a third party.”
Legal Definition list
- Deposit-Taking Activity [Banks & Banking]
- Deposit Slip
- Deposit Receipt
- Deposit Insurance
- Deposit Contract
- Depositary
- Depositary Bank
- Deposition
- Deposition De Bene Esse
- Deposition Subpoena
- Depository
