(4) Financial institution
(A) In general
The term financial institution means any institution engaged in the business of providing financial services to customers who maintain a credit, deposit, trust, or other financial account or relationship with the institution.
(B) Certain financial institutions specifically included The term financial institution includes any depository institution (as defined in section
461 (b)(1)(A) of title
12), any broker or dealer, any investment adviser or investment company, any insurance company, any loan or finance company, any credit card issuer or operator of a credit card system, and any consumer reporting agency that compiles and maintains files on consumers on a nationwide basis (as defined in section
1681a (p) of this title).
(C) Securities institutions For purposes of subparagraph (B)
(i) the terms broker and dealer have the same meanings as given in section
78c of this title;
(ii) the term investment adviser has the same meaning as given in section
80b–2 (a)(11) of this title; and
(iii) the term investment company has the same meaning as given in section
80a–3 of this title.
(D) Certain persons and entities specifically excluded The term financial institution does not include any person or entity with respect to any financial activity that is subject to the jurisdiction of the Commodity Futures Trading Commission under the Commodity Exchange Act [
7 U.S.C.
1 et seq.] and does not include the Federal Agricultural Mortgage Corporation or any entity chartered and operating under the Farm Credit Act of 1971 [
12 U.S.C.
2001 et seq.].
(E) Further definition by regulation
The Federal Trade Commission, after consultation with Federal banking agencies and the Securities and Exchange Commission, may prescribe regulations clarifying or describing the types of institutions which shall be treated as financial institutions for purposes of this subchapter.
