HUMS 202 Lecture Notes - Lecture 6: Life Insurance, Wyou, Disability Insurance
Document Summary
Fdic = independent government agency that insures deposits in banks and savings associations. Truth in lending act -->lenders have to disclose the total cost of loan including finance charge and apr and it gives consumers the right to cancel certain types of home loans w/in three days. Electronic fund transfer act est. rights, liabilities, and responsibilities of customers who use electronic fund transfer services like atms debit cards and phone/computer transactions. Expedited funds availability act limits amount of time a bank can hold a check deposited into checking account. Privacy notices explain how financial institutions handle and share your personal financial information, they share it to offer more services, introduce new products, and profit from info they have about you. Initial privacy notices: required when you open an account or become a customer of a financial company. Annual privacy notices: once a year from each financial company you have relationship where.
