FASTBAC Definition

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FASTBAC is First Automotive Short-Term Bonds and Certificates; asset-backed securities supported by automo­tive loan contracts.

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FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) is an agency of the federal government that insures accounts at most commercial banks and mutual savings banks. The FDIC also has primary federal supervisory authority over insured state banks that are not members of the Federal Reserve System.

DEBT CONSOLIDATION is initiating one loan to pay off many others. This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.

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