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Charge-off. A charge-off or chargeoff is a declaration by a creditor (usually a credit card account) that an amount of debt is unlikely to be collected. This occurs when a consumer becomes severely delinquent on a debt. Traditionally, creditors make this declaration at the point of six months without payment. A charge-off is a form of write-off .
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1]
Conjunction fallacy. The conjunction fallacy (also known as the Linda problem) is an inference that a conjoint set of two or more specific conclusions is likelier than any single member of that same set, in violation of the laws of probability. It is a type of formal fallacy .
Consumer credit card net charge-offs have gradually risen since the Federal Reserve began raising interest rates in 2022. Credit Card Net Charge-Offs Are Rising. Here's Why Banks Aren't Too Concerned.
The Emergency Economic Stabilization Act of 2008, also known as the " bank bailout of 2008 " or the " Wall Street bailout ", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks. The bill was proposed by Treasury Secretary Henry Paulson, passed ...
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may fail in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts ...
Dual-process moral reasoning is an effective response to a similar efficiency-flexibility trade-off. We often rely on our "automatic settings" and allow intuitions to guide our behaviour and judgement. In "manual mode", judgments draw from both general knowledge about "how the world works" and explicit understanding of special situational features.
In banking, the Allowance for Loan and Lease Losses (ALLL), formerly known as the reserve for bad debts, is a calculated reserve that financial institutions establish in relation to the estimated credit risk within the institution's assets. This credit risk represents the charge-offs that will most likely be realized against an institution's ...