Falls for bounder in suit (7)
I believe the answer is:
cascade
'falls' is the definition.
('cascade' can be a synonym of 'falls')
'bounder in suit' is the wordplay.
'bounder' becomes 'cad' ('cad' can be a synonym of 'bounder').
'in' means one lot of letters goes inside another.
'suit' becomes 'case' ('case' can be a synonym of 'suit').
'cad' put into 'case' is 'CASCADE'.
'for' is the link.
(Other definitions for cascade that I've seen before include "Tumble down (like water)" , "Sudden downpour" , "Outpouring" , "Dramatic fall" , "Rush" .)