Glossary

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Dealer Sticker Price: Dealer Sticker Price, usually on a supplemental sticker, is the Monroney sticker price plus the suggested retail price of dealer-installed options, such as additional dealer markup (ADM) or additional dealer profit (ADP), and dealer preparation.

Debit: A debit may be an account entry representing money you owe a lender or money that has been taken from your deposit account.

Debit Card: A debit card allows the account owner to access their funds electronically. Debit cards may be used to obtain cash from automated teller machines, or purchase goods or services using point-of-sale systems. The use of a debit card involves immediate debiting and/or crediting of consumers' accounts.

Debt Collector: Any person who regularly collects debts owed to others.

Debt Elimination Scheme: A plan that is advertised as a way for an individual to eliminate various types of debt simply by paying someone a small fee compared to the amount of debt to be eliminated. These schemes are fraudulent. As a result of using a fraudulent scheme, individuals will lose money, could lose property, may incur damage to their credit rating, and possibly incur additional debt. In addition, a creditor may take legal action against an individual to resolve a fraudulent attempt to eliminate debt. It is also possible for the victim to have identify theft occur by participating in such a fraudulent scheme.

Debtor: Someone who owes monies to another party.

Debt-to-Income Ratio (DTI): The percentage of a member's monthly gross income that goes toward paying installment debts. Generally, the higher the ratio, the lower is your capacity to repay the loan. The DTI is calculated by dividing total monthly debts by total monthly gross income.

Decedent: A deceased person, ordinarily used with respect to one who has died recently.

Deferred Payment: A payment postponed until a future date.

Delinquency: A debt that was not paid by the loan’s payment date.

Deposit Slip: An itemized memorandum of the cash, and other funds, that a member presents to the financial institution for depositing into his or her account.

Derogatory Information: Information received by a financial institution indicating a credit applicant has not paid his or her accounts with other creditors according to the required terms.

Direct Deposit: A payment that is electronically deposited into an individual's account at a depository institution.

Direct Dispute: A dispute submitted directly to the financial institution about the accuracy of information in your credit report that relates to an account or other relationship you have with the financial institution.

Disclosures (Credit): Certain information that federal and state laws require creditors to give to borrowers relative to the terms of the credit extended.

Disclosures (Deposit): Certain information that federal and state laws require depository financial institutions give to depositors relative to the terms of the deposit account.

Dividends: The money the credit union pays you for keeping your money in your savings account, also known as a share account.

Dodd-Frank Wall Street Reform and Consumer Protection Act: Signed by President Barack Obama in 2010, the act is intended to promote the financial stability of the United States by improving accountability and transparency in the financial system and to protect consumers from abusive financial services practices.

Draft: A signed written order by which one party (the drawer) instructs another party (the drawee) to pay a specified sum to a third party (the payee), at sight, or at a specific date. Typical bank drafts are negotiable instruments and are similar in many ways to checks.

Drawee: The entity (bank, credit union, or other institution) who is expected to pay a check or draft when it is presented for payment.

Drawee Institution: The bank or credit union upon which a check or draft is drawn.

Drawer: The person or entity who writes a check or draft instructing the drawee to pay someone else.

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