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Annual cleanup

• The requirement that for a certain number of days during the year, borrowers under a line of credit carry a zero loan balance (i.e., owe the bank nothing).

 
 Embedded terms in definition
 Carry
Credit
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Line of credit
 
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Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

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