31 C.F.R. § 566.306

Current through November 30, 2024
Section 566.306 - Financial institution

The term financial institution means:

(a) An insured bank (as defined in section 3(h) of the Federal Deposit Insurance Act (12 U.S.C. 1813(h) );
(b) A commercial bank or trust company;
(c) A private banker;
(d) An agency or branch of a foreign bank in the United States;
(e) Any credit union;
(f) A thrift institution;
(g) A broker or dealer registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.);
(h) A broker or dealer in securities or commodities;
(i) An investment banker or investment company;
(j) A currency exchange;
(k) An issuer, redeemer, or cashier of travelers' checks, checks, money orders, or similar instruments;
(l) An insurance company;
(m) A dealer in precious metals, stones, or jewels;
(n) A loan or finance company;
(o) A licensed sender of money or any other person who engages as a business in the transmission of funds including any person who engages as a business in an informal money transfer system or any network of people who engage as a business in facilitating the transfer of money domestically or internationally outside of the conventional financial institutions system;
(p) A business engaged in vehicle sales, including automobile, airplane, and boat sales;
(q) Any business or agency which engages in any activity which the Secretary of the Treasury determines, by regulation, to be an activity which is similar to, related to, or a substitute for any activity in which any business described in this paragraph is authorized to engage; or
(r) Any other business designated by the Secretary whose cash transactions have a high degree of usefulness in criminal, tax, or regulatory matters.

31 C.F.R. §566.306

81 FR 22186 , 4/15/2016