### Question
How is the term financial transaction defined?


### Answer
The term **financial transaction** is defined in *47 U.S.C. § 1510* as the following:

> a transaction in which the purchaser or user of a wireless telecommunications service upon whom a tax, fee, or surcharge is imposed gives cash, credit, or any other exchange of monetary value or consideration to the person who is required to collect or remit the tax, fee, or surcharge

#### Citation:
  - *47 U.S.C. § 1510*
  - Heading: **CHAPTER 14-MAKING OPPORTUNITIES FOR BROADBAND INVESTMENT AND LIMITING EXCESSIVE AND NEEDLESS OBSTACLES TO WIRELESS**

