According to asset forfeiture, which term refers to a financial institution insured by the FDIC or the national credit union administration?

The term that refers to a financial institution insured by the FDIC (Federal Deposit Insurance Corporation) or the National Credit Union Administration is known as a regulated financial institution. This designation indicates that the institution operates under strict federal and state regulations and is required to maintain certain standards to protect depositors' funds.

Regulated financial institutions must adhere to various compliance requirements, including those related to anti-money laundering and record-keeping protocols—key components in the context of asset forfeiture. This regulatory framework ensures oversight and accountability, allowing for better monitoring of financial transactions that may be relevant in law enforcement operations.

In contrast, private financial institutions may not necessarily be insured by federal authorities, and unregulated banks lack the oversight provided by agencies like the FDIC. Credit cooperatives are member-owned financial entities, but they specifically operate under different regulations than traditional banks. Thus, the definition and implications of being a regulated financial institution fit this context best, aligning with the requirements set forth in asset forfeiture laws.