15 U.S.C. § 1679a — Definitions
submitted 30 years ago by Pub. L. 90-321 to r/title-15-COMMERCE-AND-TRADE · 262 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
For purposes of this subchapter, the following definitions apply:
The term “consumer” means an individual.
The term “consumer credit transaction” means any transaction in which credit is offered or extended to an individual for personal, family, or household purposes.
The term “credit repair organization”—
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—
improving any consumer’s credit record, credit history, or credit rating; or
providing advice or assistance to any consumer with regard to any activity or service described in clause (i); and
does not include—
any nonprofit organization which is exempt from taxation under section 501(c)(3) of title 26;
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
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.
Source credit: (Pub. L. 90–321, title IV, § 403, as added Pub. L. 104–208, div. A, title II, § 2451, Sept. 30, 1996, 110 Stat. 3009–455.)
- 1996Enacted · Pub. L. 90-321 · 110 Stat. 3009
A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-321 on 1996-09-30.
all 0 arguments · sorted by: best
no arguments yet — make the first case