Cost-of-way of life improvement (COLA): A yearly change in workers’ shell out in order to remove the result from rising prices into purchasing power. A great Soda is commonly a salary increase, in line with the Individual Price Index.

Counterfeit: Fake, usually speaking about bogus money. The trick Service is responsible for examining fake cash in the fresh You.S.

Credit: An appropriate arrangement in which a borrower get one thing of value now by promising to pay the lending company for this afterwards. If item useful was a product or service, check this link right here now the fresh purchaser acquisitions it “toward credit.” (Discover and loans.)

Borrowing agency: A friends one to suggestions borrowers’ borrowing records. The three premier U.S. credit agencies try Equifax, Experian, and you will TransUnion. Continue reading →