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Glossary
We realize some of the credit wording the banks use can get confusing. We've put together this glossary to help you better understand commonly used words, phrases, and acronyms in the credit industry.

Glossary

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	Wage Assignment
	A wage assignment is a signed agreement by a purchaser or borrower, permitting a creditor to collect a certain percentage of their earned wages directly from their employer in the event of default loan payments.

	Waiver
	The intentional and voluntary waiver agreement that gives up of rights or claims to an agreement or action.

	Wall Street Journal Prime Rate
	The Wall Street Journal independently surveys large banks and publishes the consensus 'prime rate level'. It is the most widely quoted measure of the standard prime rate, which is a common benchmark measure for consumer and business loans set by most banking institutions. The wall street journal prime rate is often at a level 3 percentage points higher than the federal funds rate. The prime rate will move up or down in step with changes made by the Federal Reserve Board.

	Wire Transfer
	A wire transfer automatically transfers funds electronically from one financial institution to another.

	WSJ Prime Rate
	The initials stand for the Wall Street Journal, which surveys large banks and publishes the consensus 'prime rate level'. It is the most widely quoted measure of the standard prime rate, which is a common benchmark measure for consumer and business loans set by most banking institutions. The wall street journal prime rate is often at a level 3 percentage points higher than the federal funds rate. The prime rate will move up or down in step with changes made by the Federal Reserve Board.