### Question
How does the law define financial institution?


### Answer
Under *12 U.S.C. § 1787*, **financial institution** is defined as:

> a broker or dealer, a depository institution, a futures commission merchant, a credit union, or any other institution, as determined by the Board by regulation to be a financial institution

#### Citation:
  - *12 U.S.C. § 1787*
  - Heading: **CHAPTER 14-FEDERAL CREDIT UNIONS > SUBCHAPTER II-SHARE INSURANCE**

