Acronyms
In issue 97:08:02 (What does is Mean?), we provided you with the
definitions of some commonly used yet commonly misunderstood
acronyms. Here is a continuation of that list: See if you know 'em
all!
ABA -American Bankers Association. Find them on the web
at
http://www.aba.com.
APR-Annual Percentage Rate. Cost of credit on a yearly
basis expressed as a percentage.
CHIPS -Clearing House Interbank Payments System. An
automated clearing system used primarily for internal payments. Owned
and operated by the NY Clearing House Banks.
NBA -National Bankcard Association. Check out issue
97:03:02, or call the NBA at 800-576-2220.
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