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Concentration Bank Definition.

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A concentration bank is a bank that holds a large percentage of the deposits in a particular market. In the United States, the four largest banks are considered concentration banks. They are JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. These banks hold a combined market share of 44 percent of all deposits. What … Read more

Rescission.

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Rescission is the legal process of undoing a contract. This may be done by mutual agreement of the parties, or by one party unilaterally if there is grounds for rescission such as fraud, duress, or mistake. Once a contract is rescinded, it is as if it never existed and the parties are released from any … Read more