Loans That Have Minor Weaknesses Because a Bank Has Not

question 125

Short Answer

Loans that have minor weaknesses because a bank has not followed its written loan policy or which have missing documentation are called ______________ loans.

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Definitions:

Instrument For Value

A legal document that represents or embodies a certain value and can be exchanged or used in financial transactions, such as checks, bonds, or certificates of deposit.

Conditions

Stipulations or requirements specified within an agreement or contract that must be met for it to be fully effective.

Holder

An individual or entity that legally possesses a negotiable instrument, like a check or promissory note, and has the right to enforce it.

FTC

The Federal Trade Commission, a U.S. federal agency responsible for consumer protection and the prevention of anti-competitive business practices.