The Center For Debt Management
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TITLE 15–COMMERCE AND TRADE

CHAPTER 41–CONSUMER CREDIT PROTECTION

Sub Chapter&nbspII-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.
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