Series24 – What Is the Series 24 Exam? Series24 licensing is required for general securities principals to manage or supervise investment banking or securities business activities. The Series 24 is an exam and license entitling the holder to supervise and manage branch activities at a broker-dealer. It is also known […]
Banking
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What Is a Loan Shark? A loan shark is a person or an entity that loans money at extremely high-interest rates. They often use threats of violence to collect debts. The interest rates are generally well above an established legal rate. And, often loan sharks are members of organized crime […]
What Is Bank-Owned Life Insurance (BOLI)? Bank-owned life insurance (BOLI) is a form of life insurance purchased by banks for their key employees. However, the bank is the beneficiary and also usually the owner of the policy. This insurance is used as a tax shelter for financial institutions. They leverage […]
What is Infinite Banking? Infinite banking refers to a process where an individual becomes his or her own banker. The infinite banking concept is promoted by Nelson Nash. In his book, “Becoming Your Own Banker,” Nash explains the use of whole life insurance policies that distribute dividends. By owning such […]
Reg E – What Is Regulation E (Definition and Guide) Regulation E, also known as Reg E is a regulation put forth by the Federal Reserve Board. It outlines rules and procedures for electronic funds transfers (EFTs). It also provides guidelines for banks and issuers of electronic debit cards. The […]