### Question
How does CREDIT REPORTING AGENCIES define financial institution?


### Answer
Under *15 U.S.C. § 1681a*, **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 that, directly or indirectly, holds a transaction account (as defined in section 461(b) of title 12) belonging to a consumer

#### Citation:
  - *15 U.S.C. § 1681a*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER III-CREDIT REPORTING AGENCIES**

