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Frozen Account
An account that is temporarily inaccessible, often due to suspected fraudulent activity or a court order.
More Details
A frozen account is a financial account that has been temporarily suspended and is not able to be used for transactions or access to funds. This can happen for a variety of reasons, such as a request by the account holder, a legal order, or a bank's internal policies.
Example
You recently noticed fraudulent activity on your basic checking account. After you reported this to MCU, your account was frozen in order to protect you and your funds.
Related Terms
Holdings
The assets, such as stocks or bonds, that an individual or institution owns.
Fair Credit Reporting Act (FCRA)
A federal law that protects consumers' credit information and gives them the right to access and dispute their credit reports.
Terms of Service
Terms of Service (TOS) are the legal agreements between a service provider and a user that govern the use of the service.