Financial institution
(ii) Financial institution. For purposes of paragraph (b)(3) of this section, financial institution shall mean a bank, savings association, or credit union. (4) Nonconforming payments(i) In general. Except as provided in paragraph (b)(4)(ii) of this section, if a creditor specifies, on or with the periodic statement, requirements for the consumer to follow in making payments as permitted under this 1026.10, but accepts a payment that does not conform to the requirements, the creditor shall credit the payment within five days of receipt. (ii) Payment methods promoted by creditor. If a creditor promotes a method for making payments, such payments shall be considered conforming payments in accordance with this paragraph (b) and shall be credited to the consumer's account as of the date of receipt, except when a delay in crediting does not result in a finance or other charge.