Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

FDIC BankFind is a free database offered by the Federal Deposit Insurance Corporation (FDIC). The FDIC BankFind provides general information about FDIC-insured financial institutions. Both consumers and employees can utilize this tool for decision-making purposes.

Information Supplied by FDIC BankFind

FDIC BankFind offers a concise snapshot of a financial institution, including:

  • Status (active or inactive)
  • Website address
  • Headquarter location
  • Number of locations
  • States in which branches are located
  • Year established
  • Name changes
  • FDIC certificate number

Note: For financials, check out the FDIC’s Institution Directory (ID).

BankFind Uses

Consumers: FDIC BankFind simplifies the process for consumers who are performing due diligence on a financial institution. Consumers want to know they are depositing their money with sound financial institutions, and the FDIC BankFind provides helpful information to make an informed decision.

Financial Institutions: Banking professionals also use FDIC BankFind, particularly when it comes to:

  1. Loan participations – Bankers may consult FDIC BankFind to research another bank or credit union before entering into a potential loan participation agreement. For example, State Bank may offer to sell ABC Bank part of a loan. Decision-makers at ABC Bank could quickly access FDIC BankFind to determine if State Bank is well-run and whether they feel comfortable accepting the deal. Likewise, a financial institution seeking to sell a participation could explore BankFind to identify banks and credit unions to approach.
  2. Peer comparison – Bankers may also turn to FDIC BankFind to measure their own financial institution against competitors in terms of:
  • Return on investment
  • Return on assets
  • Return on equity
  • Total deposits
  • Total loan amounts
  • Market share

Banking Resources

For more information about best practices in financial institutions, be sure to check out our extensive resource library with free spreadsheets, whitepapers, and eBooks.

Browse our banking definitions page for more terminology.

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