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


### Answer
The term **financial institution** is defined in *12 U.S.C. § 1787* as the following:

> 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**

