Financial Institution
/ˌfaɪnænʃəl ˌɪnstɪˈtjuːʃən/
Definitions
- (n.) An organization legally authorized to accept deposits, provide loans, and offer other financial services.
The financial institution approved her mortgage application.
- (n.) A regulated entity involved in the management, investment, or transfer of money, including banks, credit unions, and investment firms.
Financial institutions must comply with anti-money laundering laws.
Forms
- financial institutions
Related terms
See also
Commentary
The term broadly covers varied regulated entities in the financial sector; clarity in drafting should specify the types of institutions relevant to the legal context.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.