12 CFR 1002.105
§ 1002.105 Covered financial institutions and exempt institutions.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 1002.105, § 1002.105 Covered financial institutions and exempt institutions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49184
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Full text
(a) Financial institution means any partnership, company, corporation, association (incorporated or unincorporated), trust, estate, cooperative organization, or other entity that engages in any financial activity.
(b) Covered financial institution means a financial institution, other than a Farm Credit System lender, that originated at least 1,000 covered credit transactions for small businesses in each of the two preceding calendar years.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.