Financial Institution Responsibilities

Lender Liability
Lender liability refers to the legal responsibility of a financial institution, such as a bank, savings and loan association (S&L), or credit union, to a potential borrower when a loan commitment is made. If the lender fails to provide the loan as promised, it may be responsible for the damages suffered by the potential borrower.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.