Terms Used In CFR > Title 12 > Chapter XIII > Part 1310 > Subpart C - Information Collection; Proposed and Final Determinations; Evidentiary Hearings

• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Board of Governors: means the Board of Governors of the Federal Reserve System. See 12 CFR 1310.2
• Council: means the Financial Stability Oversight Council. See 12 CFR 1310.2
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Federal Insurance Office: means the office established within the Department of the Treasury by section 502(a) of the Dodd-Frank Act (31 U. See 12 CFR 1310.2
• foreign nonbank financial company: means a company (other than a company that is, or is treated in the United States as, a bank holding company) that is—

  (1) Incorporated or organized in a country other than the United States; and

  (2) "Predominantly engaged in financial activities" as that term is defined in section 102(a)(6) of the Dodd-Frank Act (12 U. See 12 CFR 1310.2

• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• member agency: means an agency represented by a voting member of the Council under section 111(b)(1) of the Dodd-Frank Act (12 U. See 12 CFR 1310.2
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• nonbank financial company: means a U. See 12 CFR 1310.2
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Office of Financial Research: means the office established within the Department of the Treasury by section 152 of the Dodd-Frank Act (12 U. See 12 CFR 1310.2
• primary financial regulatory agency: means —

  (1) The appropriate Federal banking agency, with respect to institutions described in section 3(q) of the Federal Deposit Insurance Act (12 U. See 12 CFR 1310.2

• prudential standards: means enhanced supervision and regulatory standards established by the Board of Governors under section 165 of the Dodd-Frank Act (12 U. See 12 CFR 1310.2
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• statement: means anything of value, including but no limited to any advantage, preference, privilege, license, permit, favorable decision, ruling, status, or loan guarantee. See 34 CFR 33.2
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.