Page:United States Statutes at Large Volume 124.djvu/1988

 124 STAT. 1962 PUBLIC LAW 111–203—JULY 21, 2010 insurance and subject to regulation by any State insurance regulator, but only to the extent that such person acts in such capacity. (23) PERSON THAT PERFORMS INCOME TAX PREPARATION ACTIVITIES FOR CONSUMERS.—The term ‘‘person that performs income tax preparation activities for consumers’’ means— (A) any tax return preparer (as defined in section 7701(a)(36) of the Internal Revenue Code of 1986), regard- less of whether compensated, but only to the extent that the person acts in such capacity; (B) any person regulated by the Secretary under section 330 of title 31, United States Code, but only to the extent that the person acts in such capacity; and (C) any authorized IRS e-file Providers (as defined for purposes of section 7216 of the Internal Revenue Code of 1986), but only to the extent that the person acts in such capacity. (24) PRUDENTIAL REGULATOR.—The term ‘‘prudential regu- lator’’ means— (A) in the case of an insured depository institution or depository institution holding company (as defined in section 3 of the Federal Deposit Insurance Act), or sub- sidiary of such institution or company, the appropriate Federal banking agency, as that term is defined in section 3 of the Federal Deposit Insurance Act; and (B) in the case of an insured credit union, the National Credit Union Administration. (25) RELATED PERSON.—The term ‘‘related person’’— (A) shall apply only with respect to a covered person that is not a bank holding company (as that term is defined in section 2 of the Bank Holding Company Act of 1956), credit union, or depository institution; (B) shall be deemed to mean a covered person for all purposes of any provision of Federal consumer financial law; and (C) means— (i) any director, officer, or employee charged with managerial responsibility for, or controlling share- holder of, or agent for, such covered person; (ii) any shareholder, consultant, joint venture partner, or other person, as determined by the Bureau (by rule or on a case-by-case basis) who materially participates in the conduct of the affairs of such covered person; and (iii) any independent contractor (including any attorney, appraiser, or accountant) who knowingly or recklessly participates in any— (I) violation of any provision of law or regula- tion; or (II) breach of a fiduciary duty. (26) SERVICE PROVIDER.— (A) IN GENERAL.—The term ‘‘service provider’’ means any person that provides a material service to a covered person in connection with the offering or provision by such covered person of a consumer financial product or service, including a person that—