Loan payment not made as of the scheduled payment date, and subject to late charges after an allowable Grace Period. Continued lateness is noted in the borrower's credit history, and may be reported to a credit bureau or credit reporting agency. Past due loans are reported on a bank's Call Report.
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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