Page:United States Statutes at Large Volume 124.djvu/1982

 124 STAT. 1956 PUBLIC LAW 111–203—JULY 21, 2010 (4) CONSUMER.—The term ‘‘consumer’’ means an individual or an agent, trustee, or representative acting on behalf of an individual. (5) CONSUMER FINANCIAL PRODUCT OR SERVICE.—The term ‘‘consumer financial product or service’’ means any financial product or service that is described in one or more categories under— (A) paragraph (15) and is offered or provided for use by consumers primarily for personal, family, or household purposes; or (B) clause (i), (iii), (ix), or (x) of paragraph (15)(A), and is delivered, offered, or provided in connection with a consumer financial product or service referred to in subparagraph (A). (6) COVERED PERSON.—The term ‘‘covered person’’ means— (A) any person that engages in offering or providing a consumer financial product or service; and (B) any affiliate of a person described in subparagraph (A) if such affiliate acts as a service provider to such person. (7) CREDIT.—The term ‘‘credit’’ means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase. (8) DEPOSIT-TAKING ACTIVITY.—The term ‘‘deposit-taking activity’’ means— (A) the acceptance of deposits, maintenance of deposit accounts, or the provision of services related to the accept- ance of deposits or the maintenance of deposit accounts; (B) the acceptance of funds, the provision of other services related to the acceptance of funds, or the mainte- nance of member share accounts by a credit union; or (C) the receipt of funds or the equivalent thereof, as the Bureau may determine by rule or order, received or held by a covered person (or an agent for a covered person) for the purpose of facilitating a payment or transferring funds or value of funds between a consumer and a third party. (9) DESIGNATED TRANSFER DATE.—The term ‘‘designated transfer date’’ means the date established under section 1062. (10) DIRECTOR.—The term ‘‘Director’’ means the Director of the Bureau. (11) ELECTRONIC CONDUIT SERVICES.—The term ‘‘electronic conduit services’’— (A) means the provision, by a person, of electronic data transmission, routing, intermediate or transient stor- age, or connections to a telecommunications system or net- work; and (B) does not include a person that provides electronic conduit services if, when providing such services, the per- son— (i) selects or modifies the content of the electronic data; (ii) transmits, routes, stores, or provides connec- tions for electronic data, including financial data, in a manner that such financial data is differentiated from other types of data of the same form that such