### Question
How does ELECTRONIC FUND TRANSFERS define financial institution?


### Answer
Under *15 U.S.C. § 1693a*, **financial institution** is defined as:

> a State or National bank, a State or Federal savings and loan association, a mutual savings bank, a State or Federal credit union, or any other person who, directly or indirectly, holds an account belonging to a consumer

#### Citation:
  - *15 U.S.C. § 1693a*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER VI-ELECTRONIC FUND TRANSFERS**

