Covered financial institutions and exempt institutions.

(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. [88 FR 35528, May 31, 2023, as amended at 91 FR 23605, May 1, 2026]