§ 1679a. — Definitions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1679a]
TITLE 15--COMMERCE AND TRADE
CHAPTER 41--CONSUMER CREDIT PROTECTION
SUBCHAPTER II-A--CREDIT REPAIR ORGANIZATIONS
Sec. 1679a. Definitions
For purposes of this subchapter, the following definitions apply:
(1) Consumer
The term ``consumer'' means an individual.
(2) Consumer credit transaction
The term ``consumer credit transaction'' means any transaction
in which credit is offered or extended to an individual for
personal, family, or household purposes.
(3) Credit repair organization
The term ``credit repair organization''--
(A) means any person who uses any instrumentality of
interstate commerce or the mails to sell, provide, or perform
(or represent that such person can or will sell, provide, or
perform) any service, in return for the payment of money or
other valuable consideration, for the express or implied purpose
of--
(i) improving any consumer's credit record, credit
history, or credit rating; or
(ii) providing advice or assistance to any consumer with
regard to any activity or service described in clause (i);
and
(B) does not include--
(i) any nonprofit organization which is exempt from
taxation under section 501(c)(3) of title 26;
(ii) any creditor (as defined in section 1602 of this
title), with respect to any consumer, to the extent the
creditor is assisting the consumer to restructure any debt
owed by the consumer to the creditor; or
(iii) any depository institution (as that term is
defined in section 1813 of title 12) or any Federal or State
credit union (as those terms are defined in section 1752 of
title 12), or any affiliate or subsidiary of such a
depository institution or credit union.
(4) Credit
The term ``credit'' has the meaning given to such term in
section 1602(e) of this title.
(Pub. L. 90-321, title IV, Sec. 403, as added Pub. L. 104-208, div. A,
title II, Sec. 2451, Sept. 30, 1996, 110 Stat. 3009-455.)
Prior Provisions
For a prior section 403 of Pub. L. 90-321, see note set out under
section 1679 of this title.