Page 121 - The Informed Fed--Hearn (edited 10.29.20)

Credit Bureau Repositories: A Credit Bureau Repository is an
organization that compiles credit history information directly from
lenders and creditors into credit summaries and reports. These reports
are made available to lenders and creditors to assist them in gauging an
individual’s credit worthiness.

Critical illness insurance: Insurance protection designed to provide a
lump-sum payment equal to the full value of the policy or a percentage
of the policy. This depends upon the product design for the
insured/policy owner upon the diagnosis of a covered critical illness.
Typical illnesses covered include heart attack, stroke, cancer, paralysis,
renal failure and Alzheimer’s disease. Many policies offer a partial
payment for certain medical procedures such as coronary bypass surgery
or angioplasty. Some policies offer a return of all premiums in the event
of death of the insured, others pay the full benefit upon the insured’s
death.

Custodian: A financial institution, usually a bank or trust company that
holds a person’s or company’s cash and/or securities in safekeeping.

Debit Cards: Debit Cards allow the cost of a purchase to be
automatically deducted from the customer’s bank account and credited
to the merchant.

Debt Markets: The fixed income sector of the capital markets devoted
to trading debt securities issued by corporations and governments.

Debt to income ratio: The ratio of a person’s total monthly debt
obligations compared to their total monthly resources is called their debt
to income ratio. This ratio is used to evaluate a borrower’s capacity to
repay debts.

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