15 U.S.C. § 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)

section 501(c)(3) of title 26 any nonprofit organization which is exempt from taxation under ;

(ii)

section 1602 of this title any creditor (as defined in ), 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)

section 1813 of title 12 section 1752 of title 12 any depository institution (as that term is defined in ) or any Federal or State credit union (as those terms are defined in ), or any affiliate or subsidiary of such a depository institution or credit union.

(4)

Credit

1 See References in Text note below.

The term “credit” has the meaning given to such term in section 1602(e)  of this title.

Pub. L. 90–321, title IV, § 403 Pub. L. 104–208, div. A, title II, § 2451Sept. 30, 1996110 Stat. 3009–455 (, as added , , .)

Editorial Notes

References in Text

Section 1602(e) of this title section 1602(f) of this title Pub. L. 111–203, title X, § 1100A(1)(A)July 21, 2010124 Stat. 2107 , referred to in par. (4), was redesignated by , , .

Prior Provisions

section 403 of Pub. L. 90–321 section 1679 of this titleFor a prior , see note set out under .

Statutory Notes and Related Subsidiaries

Effective Date

Sept. 30, 1996section 413 of Pub. L. 90–321 Pub. L. 104–208 section 1679 of this titleSection applicable after the end of the 6-month period beginning on , except with respect to contracts entered into by a credit repair organization before the end of such period, see , as added by , set out as a note under .