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US CodeTitle 12Chapter 53§ 5622

§ 5622

Definitions

12 U.S.C. § 5622.
2 min read
Subchapter: IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS
In this subchapter, the following definitions shall apply: ((1)) ** Account** The term “account” means an agreement between an individual and an eligible entity under which the individual obtains from or through the entity 1 or more banking products and services, and includes a deposit account, a savings account (including a money market savings account), an account for a closed-end loan, and other products or services, as the Secretary deems appropriate. ((2)) ** Community development financial institution** The term “community development financial institution” has the same meaning as in .section 4702(5) of this title ((3)) ** Eligible entity** The term “eligible entity” means— ((A)) an organization described in , and exempt from tax under section 501(a) of such title; ((B)) a federally insured depository institution; ((C)) a community development financial institution; ((D)) a State, local, or tribal government entity; or ((E)) a partnership or other joint venture comprised of 1 or more of the entities described in subparagraphs (A) through (D), in accordance with regulations prescribed by the Secretary under this subchapter. ((4)) ** Federally insured depository institution** The term “federally insured depository institution” means any insured depository institution (as that term is defined in ) and any insured credit union (as that term is defined in ).section 1813 of this titlesection 1752 of this title

Release: pl-119-59 (2025-12-18)

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