Related Words

Bank Trust Department: Bank department that deals with estates, administers trusts, and provides services such as estate planning advice to its clients.

Nonbank Banks: Nonbank banks, also called limited-service banks, offer some but not all of the services of a traditional commercial bank. They're typically owned by companies, including insurance companies . . . View Full Definition

Nondiscretionary Trust: A personal trust whose trustee has no discretion in deciding how income will be distributed to the beneficiary.

Open-End Trust Deed: An expandable loan in which the borrower is given a limit up to which he or she may borrow, with each incremental advance to be secured by the same trust deed.

Paid Leave Bank: A benefit program granting employees a bank consisting of a specific number of paid days that can be used for absences related to sickness, vacation or personal reasons.

National Practitioner Data Bank (NPDB): A database maintained by the federal government that contains information on physicians and other medical practitioners against whom medical malpractice claims have been settled or other dis . . . View Full Definition

Mutual Savings Bank: A state-chartered savings bank that is owned by its depositors and managed by a fiduciary board of trustees.

National Bank: All banks in the United States are chartered by either a state government or the federal government. Federally chartered banks, called national banks, are overseen by the Comptroller of the . . . View Full Definition

National Bank Act Of 1863: In 1863, President Abraham Lincoln, at the urging of Salmon Chase, the Secretary of the Treasury, signed the National Bank Act. The Act established a national banking system and a uniform na . . . View Full Definition

National Bank For Cooperatives (Cobank): An institution of the Farm Credit System that provides financial services to approximately 2,000 agricultural cooperatives, rural utility systems, Farm Credit System associations and other b . . . View Full Definition