Law Dictionary Definitions

Financial Crimes Enforcement Network.A unit in the U.S. Department of the Treasury responsible for supporting law-enforcement efforts against domestic and international financial crimes. — Abbr. FinCEN.*[Blacks Law 8th]

financial asset.See current asset under ASSET.[Blacks Law 8th]

Financial Accounting Standards Board.The independent body of accountants responsible for establishing, interpreting, and improving standards for financial accounting and reporting. — Abbr. FASB. [Cases: Accountants 5. C.J.S. Accountants §§ 6–10.][Blacks Law 8th]

financial accounting.See ACCOUNTING(1).[Blacks Law 8th]

finance company.A nonbank company that deals in loans either by making them or by purchasing notes from another company that makes the loans directly to borrowers. commercial finance company.A finance company that makes loans to manufacturers and wholesalers. — Also termed commercial credit company. consumer finance company.A finance company that deals directly with consumers in…

finance officer.See TREASURER.[Blacks Law 8th]

finance lease.See LEASE.[Blacks Law 8th]

finance charge.An additional payment, usu. in the form of interest, paid by a retail buyer for the privilege of purchasing goods or services in installments. • This phrase is increasingly used as a euphemism for interest. See INTEREST(3). [Cases: Consumer Credit 52; Usury 53. C.J.S. Interest and Usury; Consumer Credit §§ 162, 165–168, 328.][Blacks Law…

finance bill.See BILL(6).[Blacks Law 8th]

finance,n.1. That aspect of business concerned with the management of money, credit, banking, and investments <after a brief career in finance, Andrea decided to go to law school>.2. The science or study of the management of money, etc. <Bill sought a degree in finance because he wanted to be an investment banker>. finance,vb. To raise…