A cooperative association that offers low-interest loans and other consumer banking services to persons sharing a common bond — often fellow employees and their family members. • Most credit unions are regulated by the National Credit Union Administration. State-chartered credit unions are also subject to regulation by the chartering state, and they may be regulated […]
halawa (h[schwa]-lah-w[schwa]), n. [Hindi] A system for transferring money, usu. across national borders, based on trust and operating through networks based on family relationships or on regional or ethnic affiliations rather than through banks and financial institutions. • The system originated in India before the introduction of western banking practices. It is commonly used in
Uniform Customs and Practice for Commercial Documentary Credits. A publication of the International Chamber of Commerce that codifies widespread customs of bankers and merchants relating to the mechanics and operation of letters of credit. • Courts look to this publication to supplement and help interpret primary sources of credit law, such as UCC Article 5.
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