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12 USC § 5622 - Definitions 

---
identifier: "/us/usc/t12/s5622"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 5622 - Definitions"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "5622"
section_name: "Definitions"
chapter_number: 53
chapter_name: "WALL STREET REFORM AND CONSUMER PROTECTION"
subchapter_number: "VII"
subchapter_name: "IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 111–203, title XII, § 1203, July 21, 2010, 124 Stat. 2129.)"
---

# § 5622. Definitions

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** section 4702(5) of this title

The term “community development financial institution” has the same meaning as in .

**(3)** **Eligible entity** The term “eligible entity” means—

**(A)** an organization described in section 501(c)(3) of title 26, 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** section 1813 of this titlesection 1752 of this title

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 ).

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**Source Credit**: (Pub. L. 111–203, title XII, § 1203, July 21, 2010, 124 Stat. 2129.)

## Editorial Notes

### References in Text

This subchapter, referred to in text, was in the original “this title”, meaning title XII of , , , known as the Improving Access to Mainstream Financial Institutions Act of 2010, which is classified principally to this subchapter. For complete classification of title XII to the Code, see Short Title note set out under  and Tables.