Definition of "financial institution" []

• An institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets (noun)

WordNet. Princeton University. 2010.

• "With a durable power of attorney, if the principal becomes incapacitated, the agent or person who has been empowered to act for the benefit of the principal must convince every financial institution and title examiner that he or she actually has the authority."