What does belt and suspenders mean?

belt and suspenders meaning in Law Dictionary

bank that is cautios about lending. Risk is avoided with redundant safety procedures.

belt and suspenders meaning in Business Dictionary

A conservative method of financing. A bank which takes a belt and suspenders strategy is incredibly cautious for making loans. More generally, this term is used to spell it out any try to prevent threat through redundant security procedures, such putting on both a belt and suspenders.