What is depository financial institution?

Some articles on financial institution, depository financial institution:

Automated Clearing House - ACH Process
... with the rules and regulations of ACH, no financial institution may issue an ACH transaction (whether it be debit or credit) towards an account without prior authorization from the Receiver ... Originator then creates an ACH entry to be given to an Originating Depository Financial Institution (ODFI), which can be any financial institution that ... This ACH entry is then sent to an ACH Operator that passes it on to the Receiving Depository Financial Institution (RDFI), where the Receiver's account is issued either a debit or credit ...

Famous quotes containing the words institution, depository and/or financial:

    We are now a nation of people in daily contact with strangers. Thanks to mass transportation, school administrators and teachers often live many miles from the neighborhood schoolhouse. They are no longer in daily informal contact with parents, ministers, and other institution leaders . . . [and are] no longer a natural extension of parental authority.
    James P. Comer (20th century)

    What a wonderful faculty is memory!—the most mysterious and inexplicable in the great riddle of life; that plastic tablet on which the Almighty registers with unerring fidelity the records of being, making it the depository of all our words, thoughts and deeds—this faithful witness against us for good or evil.
    Susanna Moodie (1803–1885)

    The woman who does her job for society inside the four walls of her home must not be considered by her husband or anyone else an economic “dependent,” reaching out her hands in mendicant fashion for financial help.
    Mary Barnett Gilson (1877–?)