PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-456 "(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 the Internal Revenue Code of 1986; "(ii) any creditor (as defined in section 103 of the Truth in Lending Act), 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 3 of the Federal Deposit Insurance Act) or any Federal or State credit union (as those terms are defined in section 101 of the Federal Credit Union Act), 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 103(e) of this Act.
- SEC. 404. PROHIBITED PRACTICES.
15 USC 1679b. "(a) IN GENERAL.— No person may— "(1) make any statement, or counsel or advise any consumer to make any statement, which is untrue or misleading (or which, upon the exercise of reasonable care, should be known by the credit repair organization, officer, employee, agent, or other person to be untrue or misleading) with respect to any consumer's credit worthiness, credit stan<ing, or credit capacity to— "(A) any consumer reporting agency (as defined in section 603(f) of this Act); or "(B) any person— "(i) who has extended credit to the consumer; or "(ii) to whom the consumer has applied or is apply- ing for an extension of credit; "(2) make any statement, or counsel or advise any consumer to make any statement, the intended effect of which is to alter the consumer's identification to prevent the display of the consumer's credit record, history, or rating for the purpose of concealing adverse information that is accurate and not obsolete to— "(A) any consumer reporting agency; "(B) any person— "(i) who has extended credit to the consumer; or "(ii) to whom the consumer has applied or is apply- ing for an extension of credit; "(3) make or use any untrue or misleading representation of the services of the credit repair organization; or
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