Banking law consists of various regulations that oversee financial institutions, ensuring compliance with federal and Florida state laws governing banks, credit unions, and other financial entities. These laws establish guidelines for banking operations, consumer protections, and financial transactions.

Banking law includes several important legal terms, such as:

• Regulatory Compliance: The requirement for banks and financial institutions to follow federal and state laws, including consumer protection regulations.
• Loan Agreement: A contract between a lender and a borrower outlining repayment terms, interest rates, and conditions.
• FDIC (Federal Deposit Insurance Corporation): A government agency that insures deposits in member banks to protect consumers.
• Usury Laws: Regulations that set limits on the interest rates lenders can charge on loans.
• Bankruptcy: A legal process allowing individuals or businesses unable to pay debts to seek relief under court supervision.
• Electronic Funds Transfer (EFT): A system that enables electronic transactions, including direct deposits and online payments.