§ 566.306. Financial institution.
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/us/cfr/t31/s§ 566.306·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
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