It's much easier to start with good habits than to repair black marks later on.                                                                 



You are invited to the most effective program available to clear mistakes made by creditors.



Once you have obtained excellent credit, it is necessary for you to protect it.                                             

Financial Glossary
Understanding Financial, Credit, & Real Estate Terms


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Office of the Comptroller of the Currency (OCC)  —  An independent bureau of the Treasury Department and the oldest federal financial regulatory body. The OCC oversees the nation's federally chartered banks and through a system of bank supervision and regulation promotes safety and soundness by requiring that national banks adhere to sound management principles and comply with the law, and encourages banks to satisfy customer and community needs while remaining efficient competitors in the financial services market.

Office of Thrift Supervision (OTS)   —  A bureau of the Treasury Department, established in August 1989, which has the authority to charter federal thrift institutions and serve as the primary regulator of approximately 2,000 federal and state-chartered thrifts.

Online banking  —  Access by personal computer or terminal to bank information, accounts and certain transactions via the financial institution’s web site on the Internet. Also known as Internet banking.

Open market operations  —  Purchases and sales of government securities and certain other securities in the open market, through the Domestic Trading Desk at the Federal Reserve Bank of New York as directed by the Federal Open Market Committee (FOMC), to influence the volume of money and credit in the economy. Purchases inject reserves into the banking system and stimulate growth of money and credit; sales do the opposite.

Open-end credit   —  A line of credit that may be used repeatedly up to a certain limit, also called a charge account or revolving credit.

Open-end lease   —  A lease that may involve a balloon payment based on the value of the property when it is returned. Also called finance lease.

OTC margin bond   —  A debt security not traded on the national securities exchange, which meets certain Regulation T requirements as to size of original offering, available information and status of interest payments.

Over The Counter (OTC)  —  Figurative term for the means of trading securities that are not listed on an organized stock exchange such as the New York Stock Exchange, as in OTC margin bonds. Over-the-counter trading is done by broker-dealers who communicate by telephone and computer networks.

Overdraft checking account   —  A checking account associated with a line of credit that allows a person to write checks for more than the actual balance in the account, with a finance charge on the overdraft.