In general .—

Except as provided in paragraph (2), the term “bank” means any of the following:

(A) An insured bank as defined in section 3(h) of the Federal Deposit Insurance Act [ 12 U.S.C. 1813(h) ].

(B) An institution organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands which both— (i) accepts demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; and (ii) is engaged in the business of making commercial loans.

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In general .—

Official source

Except as provided in paragraph (2), the term “bank” means any of the following:

(A) An insured bank as defined in section 3(h) of the Federal Deposit Insurance Act [ 12 U.S.C. 1813(h) ].

(B) An institution organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands which both— (i) accepts demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; and (ii) is engaged in the business of making commercial loans.