Page 1863
`
`TITLE 12---BANKS AND BANKING
`
`§5481
`
`VII of Pub. L. 111-203, July 21, 2010, 124 Stat. 1641. Sec(cid:173)
`tion 728 of the Act amended the act of Sept. 21, 1922, ch.
`369, to add a new section 21 which is classified to sec(cid:173)
`tion 24a of Title 7, Agriculture. For complete classifica(cid:173)
`tion of this Act to the Code, see Short Title note set
`out under section 8301 of Title 15, Commerce and Trade,
`and Tables.
`Section 745(b)(3) of the Wall Street Transparency and
`Accountability Act of 2010, referred to in subsec. (a)(2),
`probably means section 5c(c)(3) of the Commodity Ex(cid:173)
`change Act, which is classified to section 7a-2(c)(3) of
`Title 7, Agriculture. Section 745(b) of the Wall Street
`Transparency and Accountability Act of 2010, which is
`section 745(b) of Pub. L. 111-203, added subsec. (c) of sec(cid:173)
`tion 7a-2 of Title 7 and struck out former subsec. (c) of
`that section. Section 7a-2(c)(3) of Title 7 relates to
`stays of the certification for rules. Section 745(b) of
`Pub. L. 111-203 does not contain a par. (3).
`§ 5472. Common framework for designated clear(cid:173)
`ing entity risk management
`The Commodity Futures Trading Commission
`and the Commission shall coordinate with the
`Board of Governors to jointly develop risk man(cid:173)
`agement supervision programs for designated
`clearing entities. Not later than 1 year after
`July 21, 2010, the Commodity Futures Trading
`Commission, the Commission, and the Board of
`Governors shall submit a joint report to the
`Committee on Banking, Housing, and Urban Af(cid:173)
`fairs and the Committee on Agriculture, Nutri(cid:173)
`tion, and Forestry of the Senate, and the Com(cid:173)
`mittee on Financial Services and the Committee
`on Agriculture of the House of Representatives
`recommendations 1 for-
`(1) improving consistency in the designated
`clearing entity oversight programs of the
`Commission and
`the Commodity Futures
`Trading Commission;
`(2) promoting robust risk management by
`designated clearing entities;
`(3) promoting robust risk management over(cid:173)
`sight by regulators of designated clearing en(cid:173)
`tities; and
`(4) improving regulators' ability to monitor
`the potential effects of designated clearing en(cid:173)
`tity risk management on the stability of the
`financial system of the United States.
`(Pub. L. 111-203, title VIII, §813, July 21, 2010, 124
`Stat. 1821.)
`SUBCHAPTER V-BUREAU OF CONSUMER
`FINANCIAL PROTECTION
`§ 5481. Definitions
`Except as otherwise provided in this title,l for
`purposes of this title,l the following definitions
`shall apply:
`(1) Affiliate
`The term "affiliate" means any person that
`controls, is controlled by, or is under common
`control with another person.
`(2) Bureau
`The term "Bureau" means the Bureau of
`Consumer Financial Protection.
`(3) Business of insurance
`The term "business of insurance" means the
`writing of insurance or the reinsuring of risks
`
`1 So in original. Probably should be preceded by "with".
`1 See References in Text note below.
`
`by an insurer, including all acts necessary to
`such writing or reinsuring and the activities
`relating to the writing of insurance or the re(cid:173)
`insuring of risks conducted by persons who act
`as, or are, officers, directors, agents, or em(cid:173)
`ployees of insurers or who are other persons
`authorized to act on behalf of such persons.
`(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 serv(cid:173)
`ice that is described in one or more categories
`under-
`(A) paragraph (15) and is offered or pro(cid:173)
`vided 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 subpara(cid:173)
`graph (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 pay(cid:173)
`ment for such purchase.
`(8) Deposit-taking activity
`The term "deposit-taking activity" means--
`(A) the acceptance of deposits, mainte(cid:173)
`nance of deposit accounts, or the provision
`of services related to the acceptance of de(cid:173)
`posits or the maintenance of deposit ac(cid:173)
`counts;
`(B) the acceptance of funds, the provision
`of other services related to the acceptance of
`funds, or the maintenance 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 5582 of this
`title.
`(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, inter-
`
`VERSATA EXHIBIT 2049
`SAP v. VERSATA
`CASE CBM2012-00001
`
`

`

`§5481
`
`TITLE 12-BANKS AND BANKING
`
`Page 1864
`
`mediate or transient storage, or connections
`to a telecommunications system or network;
`and
`(B) does not include a person that provides
`electronic conduit services if, when provid(cid:173)
`ing such services, the person-
`(!) selects or modifies the content of the
`electronic data;
`(11) transmits, routes, stores, or provides
`connections for electronic data, including
`financial data, in a manner that such fi(cid:173)
`nancial data is differentiated from other
`types of data of the same form that such
`person transmits, routes, or stores, or with
`respect to which, provides connections; or
`(111) is a payee, payor, correspondent, or
`similar party to a payment transaction
`with a consumer.
`(12) Enumerated consumer laws
`Except as otherwise specifically provided in
`section 5519 of this title, subtitle G or subtitle
`H,
`the term "enumerated consumer laws"
`mean&-
`(A) the Alternative Mortgage Transaction
`Parity Act of 1982 (12 U.S.C. 3801 et seq.);
`(B) the Consumer Leasing Act of 1976 (15
`U.S.C. 1667 et seq.);
`(C) the Electronic Fund Transfer Act (15
`U.S.C. 1693 et seq.), except with respect to
`section 920 of that Act [15 U.S.C. 1693o-2];
`(D) the Equal Credit Opportunity Act (15
`U.S.C. 1691 et seq.);
`(E) the Fair Credit Billing Act (15 U.S.C.
`1666 et seq.);
`the Fair Credit Reporting Act (15
`(F)
`U.S.C. 1681 et seq.), except with respect to
`sections 615(e) and 628 of that Act (15 U.S.C.
`1681m(e), 1681w);
`(G) the Home Owners2 Protection Act of
`1998 (12 U.S.C. 4901 et seq.);
`(H) the Fair Debt Collection Practices Act
`(15 U.S.C. 1692 et seq.);
`(I) subsections (b) through (f) of section 43
`of the Federal Deposit Insurance Act (12
`U.S.C. 1831t(c)[(b)]-(f));
`(J) sections 502 through 509 of the Gramm(cid:173)
`Leach-Bliley Act (15 U.S.C. 6802--6809) except
`for section 505 [15 U.S.C. 6805] as it applies to
`section 501(b) [15 U.S.C. 6801(b)];
`(K) the Home Mortgage Disclosure Act of
`1975 (12 U.S.C. 2801 et seq.);
`(L) the Home Ownership and Equity Pro(cid:173)
`tection Act of 1994 (15 U.S.C. 1601 note);
`(M) the Real Estate Settlement Proce(cid:173)
`dures Act of 1974 (12 U.S.C. 2601 et seq.);
`(N) the S.A.F.E. Mortgage Licensing Act of
`2008 (12 U.S.C. 5101 et seq.);
`(0) the Truth in Lending Act (15 U.S.C.
`1601 et seq.);
`(P) the Truth in Savings Act (12 U.S.C. 4301
`et seq.);
`(Q) section 626 of the Omnibus Appropria(cid:173)
`tions Act, 2009 (Public Law 111-8) [12 U.S.C.
`5538]; and
`(R) the Interstate Land Sales Full Disclo(cid:173)
`sure Act (15 U.S.C. 1701).
`(13) Fair lending
`The term " fair lending" means fair, equi(cid:173)
`table, and nondiscriminatory access to credit
`for consumers.
`
`'So In original. Probably should be "Homeowners".
`
`(14) Federal consumer financial law
`The term " Federal consumer financial law"
`means the provisions of this title,1 the enu(cid:173)
`merated consumer laws, the laws for which au(cid:173)
`thorities are transferred under subtitles F and
`H, and any rule or order prescribed by the Bu(cid:173)
`reau under this title,1 an enumerated con(cid:173)
`sumer law, or pursuant to the authorities
`transferred under subtitles F and H. The term
`does not include the Federal Trade Commis(cid:173)
`sion Act [15 U.S.C. 41 et seq.].
`(15) Financial product or service
`(A) In general
`The term "financial product or service"
`mean&-
`(i) extending credit and servicing loans,
`including acquiring, purchasing, selling,
`brokering, or other extensions of credit
`(other than solely extending commercial
`credit to a person who originates consumer
`credit transactions);
`(11) extending or brokering leases of per(cid:173)
`sonal or real property that are the func(cid:173)
`tional equivalent of purchase finance ar(cid:173)
`rangements, if-
`(1)
`the lease is on a non-operating
`basis;
`(II) the initial term of the lease is at
`least 90 days; and
`(III) in the case of a lease involving
`real property, at the inception of the ini(cid:173)
`tial lease, the transaction is intended to
`result in ownership of the leased prop(cid:173)
`erty to be transferred to the lessee, sub(cid:173)
`ject to standards prescribed by the Bu(cid:173)
`reau;
`(iii) providing real estate settlement
`services, except such services excluded
`under subparagraph (C), or performing ap(cid:173)
`praisals of real estate or personal prop(cid:173)
`erty;
`(iv) engaging in deposit-taking activi(cid:173)
`ties, transmitting or exchanging funds, or
`otherwise acting as a custodian of funds or
`any financial instrument for use by or on
`behalf of a consumer;
`(v) selling, providing, or issuing stored
`value or payment instruments, except
`that, in the case of a sale of, or trans(cid:173)
`action to reload, stored value , only if the
`seller exercises substantial control over
`the terms or conditions of the stored value
`provided to the consumer where, for pur(cid:173)
`poses of this clause-
`(!) a seller shall not be found to exer(cid:173)
`cise substantial control over the terms
`or conditions of the stored value if the
`seller is not a party to the contract with
`the consumer for the stored value prod(cid:173)
`uct, and another person is principally re(cid:173)
`sponsible for establishing the terms or
`conditions of the stored value; and
`(II) advertising the nonfinancial goods
`or services of the seller on the stored
`value card or device is not in itself an
`exercise of substantial control over the
`terms or conditions;
`(vi) providing check cashing, check col(cid:173)
`lection, or check guaranty services;
`
`

`

`Page 1865
`
`TITLE 12--BANKS AND BANKING
`
`§5481
`
`(vii) providing payments or other finan(cid:173)
`cial data processing products or services to
`a consumer by any technological means,
`including processing or storing financial
`or banking data for any payment instru(cid:173)
`ment, or through any payments systems or
`network used for processing payments
`data, including payments made through an
`online banking system or mobile tele(cid:173)
`communications network, except that a
`person shall not be deemed to be a covered
`person with respect to financial data proc(cid:173)
`essing solely because the person-
`(!) is a merchant, retailer, or seller of
`any nonfinancial good or service who en(cid:173)
`gages in financial data processing by
`transmitting or storing payments data
`about a consumer exclusively for pur(cid:173)
`pose of initiating payments instructions
`by the consumer to pay such person for
`the purchase of, or to complete a com(cid:173)
`mercial
`transaction
`for,
`such non(cid:173)
`financial good or service sold directly by
`such person to the consumer; or
`(II) provides access to a host server to
`a person for purposes of enabling that
`person to establish and maintain a web(cid:173)
`site;
`(viii) providing financial advisory serv(cid:173)
`ices (other than services relating to securi(cid:173)
`ties provided by a person regulated by the
`Commission or a person regulated by a
`State securities Commission, but only to
`the extent that such person acts in a regu(cid:173)
`lated capacity) to consumers on individual
`financial matters or relating to propri(cid:173)
`etary financial products or services (other
`than by publishing any bona fide news(cid:173)
`paper, news magazine, or business or finan(cid:173)
`cial publication of general and regular cir(cid:173)
`culation,
`including publishing market
`data, news, or data analytics or invest(cid:173)
`ment
`information or recommendations
`that are not tailored to the individual
`needs of a particular consumer), includ(cid:173)
`ing-
`(I) providing credit counseling to any
`consumer; and
`(II) providing services to assist a con(cid:173)
`sumer with debt management or debt
`settlement, modifying the terms of any
`extension of credit, or avoiding fore(cid:173)
`closure;
`(ix) collecting, analyzing, maintaining,
`or providing consumer report information
`or other account information, including
`information relating to the credit history
`of consumers, used or expected to be used
`in connection with any decision regarding
`the offering or provision of a consumer fi(cid:173)
`nancial product or service, except to the
`extent that-
`(!) a person-
`(aa) collects, analyzes, or maintains
`information that relates solely to the
`transactions between a consumer and
`such person;
`(bb) provides the information de(cid:173)
`scribed in item (aa) to an affiliate of
`such person; or
`
`information that is
`(cc) provides
`used or expected to be used solely in
`any decision regarding the offering or
`provision of a product or service that
`is not a consumer financial product or
`service, including a decision for em(cid:173)
`ployment, government licensing, or a
`residential lease or tenancy involving
`a consumer; and
`(II) the information described in sub(cid:173)
`clause (I)(aa) is not used by such person
`or affiliate in connection with any deci(cid:173)
`sion regarding the offering or provision
`of a consumer financial product or serv(cid:173)
`ice to the consumer, other than credit
`described in section 5517(a)(2)(A) of this
`title;
`(x) collecting debt related to any con(cid:173)
`sumer financial product or service; and
`(xi) such other financial product or serv(cid:173)
`ice as may be defined by the Bureau, by
`regulation, for purposes of this title, 1 if
`the Bureau finds that such financial prod(cid:173)
`uct or service is-
`(!) entered into or conducted as a sub(cid:173)
`terfuge or with a purpose to evade any
`Federal consumer financial law; or
`(II) permissible for a bank or for a fi(cid:173)
`nancial holding company to offer or to
`provide under any provision of a Federal
`law or regulation applicable to a bank or
`a financial holding company, and has, or
`likely will have, a material impact on
`consumers.
`(B) Rule of construction
`(i) In general
`For purposes of subparagraph (A)(xi)(II),
`and subject to clause (11) of this subpara(cid:173)
`graph, the following activities provided to
`a covered person shall not, for purposes of
`this title,1 be considered incidental or
`complementary to a financial activity per(cid:173)
`missible for a financial holding company
`to engage in under any provision of a Fed(cid:173)
`eral law or regulation applicable to a fi(cid:173)
`nancial holding company:
`(I) Providing information products or
`services to a covered person for identity
`authentication.
`(II) Providing information products or
`services for fraud or identify theft detec(cid:173)
`tion, prevention, or investigation.
`(III) Providing document retrieval or
`delivery services.
`(IV) Providing public records informa(cid:173)
`tion retrieval.
`(V) Providing information products or
`services for anti-money laundering ac(cid:173)
`tivities.
`(ii) Limitation
`Nothing in clause (i) may be construed
`as modifying or limiting the authority of
`the Bureau to exercise any-
`(!) examination or enforcement powers
`authority under this title 1 with respect
`to a covered person or service provider
`engaging in an activity described in sub(cid:173)
`paragraph (A)(ix); or
`
`

`

`§5481
`
`TITLE 12--BANKS AND BANKING
`
`Page 1866
`
`(ll) powers authorized by this title 1 to
`prescribe rules, issue orders, or take
`other actions under any enumerated con(cid:173)
`sumer law or law for which the authori(cid:173)
`ties are transferred under subtitle F or
`H.
`(C) Exclusions
`The term "financial product or service"
`does not include-
`(!) the business of insurance; or
`(ii) electronic conduit services.
`(16) Foreign exchange
`The term "foreign exchange" means the ex(cid:173)
`change, for compensation, of currency of the
`United States or of a foreign government for
`currency of another government.
`(17) Insured credit union
`The term "insured credit union" has the
`same meaning as in section 1752 of this title.
`(18) Payment instrument
`The term "payment instrument" means a
`check, draft, warrant, money order, traveler's
`check, electronic instrument, or other instru(cid:173)
`ment, payment of funds, or monetary value
`(other than currency).
`(19) Person
`The term "person" means an individual,
`partnership, company, corporation, associa(cid:173)
`tion (incorporated or unincorporated), trust,
`estate, cooperative organization, or other en(cid:173)
`tity.
`(20) Person regulated by the Commodity Fu(cid:173)
`tures Trading Commission
`The term "person regulated by the Commod(cid:173)
`ity Futures Trading Commission" means any
`person that is registered, or required by stat(cid:173)
`ute or regulation to be registered, with the
`Commodity Futures Trading Commission, but
`only to the extent that the activities of such
`person are subject to the jurisdiction of the
`Commodity Futures Trading Commission
`under the Commodity Exchange Act [7 U.S.C.
`1 et seq.].
`(21) Person regulated by the Commission
`The term "person regulated by the Commis(cid:173)
`sion" means a person who is-
`(A) a broker or dealer that is required to
`be registered under the Securities Exchange
`Act of 1934 [15 U.S.C. 78a et seq.];
`(B) an investment adviser that is reg(cid:173)
`istered under the Investment Advisers Act of
`1940 [15 U.S.C. 80b-1 et seq.];
`(C) an investment company that is re(cid:173)
`quired to be registered under the Investment
`Company Act of 1940 [15 U.S.C. 80a-1 et seq.],
`and any company that has elected to be reg(cid:173)
`ulated as a business development company
`under that Act;
`(D) a national securities exchange that is
`required to be registered under the Securi(cid:173)
`ties Exchange Act of 1934;
`(E) a transfer agent that is required to be
`registered under the Securities Exchange
`Act of 1934;
`(F) a clearing corporation that is required
`to be registered under the Securities Ex(cid:173)
`change Act of 1934;
`
`(G) any self-regulatory organization that
`is required to be registered with the Com(cid:173)
`mission;
`(H) any nationally recognized statistical
`rating organization that is required to be
`registered with the Commission;
`(I) any securities information processor
`that is required to be registered with the
`Commission;
`(J) any municipal securities dealer that is
`required to be registered with the Commis(cid:173)
`sion;
`(K) any other person that is required to be
`registered with the Commission under the
`Securities Exchange Act of 1934; and
`(L) any employee, agent, or contractor
`acting on behalf of, registered with, or pro(cid:173)
`viding services to, any person described in
`any of subparagraphs (A) through (K), but
`only to the extent that any person described
`in any of subparagraphs (A) through (K), or
`the employee, agent, or contractor of such
`person, acts in a regulated capacity.
`(22) Person regulated by a State insurance reg(cid:173)
`ulator
`The term "person regulated by a State in(cid:173)
`surance regulator" means any person that is
`engaged in the business of insurance and sub(cid:173)
`ject to regulation by any State insurance reg(cid:173)
`ulator, but only to the extent that such person
`acts in such capacity.
`(23) Person that performs income tax prepara(cid:173)
`tion 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 title 26), regardless 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, but only to the
`extent that the person acts in such capacity;
`and
`(C) any authorized ms e-file Providers (as
`defined for purposes of section 7216 of title
`26), but only to the extent that the person
`acts in such capacity.
`(24) Prudential regulator
`The term "prudential regulator" means-
`(A) in the case of an insured depository in(cid:173)
`stitution or depository institution holding
`company (as defined in section 1813 of this
`title), or subsidiary of such institution or
`company, the appropriate Federal banking
`agency, as that term is defined in section
`1813 of this title; 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 cov(cid:173)
`ered person that is not a bank holding com(cid:173)
`pany (as that term is defined in section 1841
`of this title), credit union, or depository in(cid:173)
`stitution;
`(B) shall be deemed to mean a covered per(cid:173)
`son for all purposes of any provision of Fed(cid:173)
`eral consumer financial law; and
`
`

`

`Page 1867
`
`TITLE 12-BANKS AND BANKING
`
`§5481
`
`(C) means-
`(i) any director, officer, or employee
`charged with managerial responsibility
`for, or controlling shareholder of, or agent
`for, such covered person;
`(11) any shareholder, consultant, joint
`venture partner, or other person, as deter(cid:173)
`mined by the Bureau (by rule or on a case(cid:173)
`by-case basis) who materially participates
`in the conduct of the affairs of such cov(cid:173)
`ered person; and
`(i11) any independent contractor (includ(cid:173)
`ing any attorney, appraiser, or account(cid:173)
`ant) who knowingly or recklessly partici(cid:173)
`pates in any-
`(!) violation of any provision of law or
`regulation; 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 offer(cid:173)
`ing or provision by such covered person of a
`consumer financial product or service, in(cid:173)
`cluding a person that---
`(i) participates in designing, operating,
`or maintaining the consumer financial
`product or service; or
`(11) processes transactions relating to
`the consumer financial product or service
`(other than unknowingly or incidentally
`transmitting or processing financial data
`in a manner that such data is undifferen(cid:173)
`tiated from other types of data of the same
`form as the person transmits or processes).
`(B) Exceptions
`The term "service provider" does not in(cid:173)
`clude a person solely by virtue of such per(cid:173)
`son offering or providing to a covered per(cid:173)
`son-
`(i) a support service of a type provided to
`businesses generally or a similar ministe(cid:173)
`rial service; or
`(11) time or space for an advertisement
`for a consumer financial product or service
`through print, newspaper, or electronic
`media.
`(C) Rule of construction
`A person that is a service provider shall be
`deemed to be a covered person to the extent
`that such person engages in the offering or
`provision of its own consumer financial
`product or service.
`(27) State
`The term "State" means any State, terri(cid:173)
`tory, or possession of the United States, the
`District of Columbia, the Commonwealth of
`Puerto Rico , the Commonwealth of the North(cid:173)
`ern Mariana Islands, Guam, American Samoa,
`or the United States Virgin Islands or any fed(cid:173)
`erally recognized Indian tribe, as defined by
`the Secretary of the Interior under section
`479a-1(a) of title 25.
`(28) Stored value
`(A) In general
`The term "stored value" means funds or
`monetary value represented in any elec-
`
`tronic format, whether or not specially en(cid:173)
`crypted, and stored or capable of storage on
`electronic media in such a way as to be re(cid:173)
`trievable and transferred electronically, and
`includes a prepaid debit card or product, or
`any other similar product, regardless of
`whether the amount of the funds or mone(cid:173)
`tary value may be increased or reloaded.
`(B) Exclusion
`the
`Notwithstanding subparagraph (A),
`term "stored value" does not include a spe(cid:173)
`cial purpose card or certificate, which shall
`be defined for purposes of this paragraph as
`funds or monetary value represented in any
`electronic format, whether or not specially
`encrypted, that is-
`(i) issued by a merchant, retailer, or
`other seller of nonfinancial goods or serv(cid:173)
`ices;
`transactions
`redeemable only for
`(11)
`with the merchant, retailer, or seller of
`nonfinancial goods or services or with an
`affiliate of such person, which affiliate it(cid:173)
`self is a merchant, retailer, or seller of
`nonfinancial goods or services;
`(11i) issued in a specified amount that,
`except in the case of a card or product used
`solely for telephone services, may not be
`increased or reloaded;
`(iv) purchased on a prepaid basis in ex(cid:173)
`change for payment; and
`(v) honored upon presentation to such
`merchant,
`retailer, or seller of non(cid:173)
`financial goods or services or an affiliate
`of such person, which affiliate itself is a
`merchant,
`retailer, or seller of non(cid:173)
`financial goods or services, only for any
`nonfinancial goods or services.
`(29) Transmitting or exchanging funds
`The
`term " transmitting or exchanging
`funds" means receiving currency, monetary
`value, or payment instruments from a con(cid:173)
`sumer for the purpose of exchanging or trans(cid:173)
`mitting the same by any means, including
`transmission by wire, facsimile , electronic
`transfer, courier, the Internet, or through bill
`payment services or through other businesses
`that facilitate third-party transfers within the
`United States or to or from the United States.
`(Pub. L. 111-203, title X, § 1002, July 21, 2010, 124
`Stat. 1955.)
`
`REFERENCES IN TEXT
`This title, where footnoted in text, is title X of Pub.
`L . 111-203, July 21, 2010, 124 Stat. 1955, known a.s the
`Consumer Fina.ncial Protection Act of 2010, which en(cid:173)
`acted this subchapter and enacted, amended, and re(cid:173)
`pealed numerous other sections a.nd notes in the Code.
`For complete cla.ssification of title X to the Code, see
`Short Title note set out under section 5301 of this title
`a.nd Tables.
`Subtitle G, referred to in par. (12), is subtitle G
`(§§ 1071-1079A) of title X of Pub. L. 111-203, July 21, 2010,
`124 Stat. 2056. For complete cla.ssification of subtitle G
`to the Code, see Tables.
`Subtitle H, referred to in pars. (12) and (15)(B)(11)(Il),
`is subtitle H (§§1081-1100H) of title X of Pub. L . 111-203,
`July 21, 2010, 124 Stat. 2080. For complete cla.ss!fication
`of subtitle H to the Code, see Tables.
`The Alternative Mortgage Transaction Parity Act of
`1982, referred to in par. (12)(A), is title VIII of Pub. L .
`
`

`

`§5481
`
`TITLE 12--BANKS AND BANKING
`
`Page 1868
`
`97-320, Oct. 15, 1982, 96 Stat. 1545, which is classified
`generally to chapter 39 (§3801 et seq.) of this title. For
`complete classification of this Act to the Code, see
`Short Title note set out under section 3801 of this title
`and Tables.
`The Consumer Leasing Act of 1976, referred to in par.
`(12)(B), is Pub. L. 94-240, Mar. 23, 1976, 90 Stat. 257. For
`complete classification of this Act to the Code, see
`Short Title of 1976 Amendment note set out under sec(cid:173)
`tion 1601 of Title 15, Commerce and Trade, and Tables.
`The Electronic Fund Transfer Act, referred to in par.
`(12)(C), is title IX of Pub. L . 91>-321, as added by Pub. L.
`9&-630, title XX, §2001, Nov. 10, 1978, 92 Stat. 3728, which
`is classified generally to subchapter VI (§ 1693 et seq.) of
`chapter 41 of Title 15, Commerce and Trade. For com(cid:173)
`plete classification of this Act to the Code, see Short
`Title note set out under section 1601 of Title 15 and
`Tables.
`.
`The Equal Credit Opportunity Act, referred to in par.
`(12)(D), is title VII of Pub. L . 91>-321, as added by Pub.
`L. 93-495, title V, §503, Oct. 28, 1974, 88 Stat. 1521, which
`is classified generally to subchapter IV (§ 1691 et seq.) of
`chapter 41 of Title 15, Commerce and Trade. For com(cid:173)
`plete classification of this Act to the Code, see Short
`Title note set out under section 1601 of Title 15 and
`Tables.
`The Fair Credit Billing Act, referred to in par. (12)(E),
`is title III of Pub. L. 93-495, Oct. 28, 1974, 88 Stat. 1511,
`which enacted sections 1666 to 1666i and 1666J of Title 15,
`Commerce and Trade, amended sections 1601, 1602, 1610,
`1631, 1632, and 1637 of Title 15, and enacted provisions
`set out as a note under section 1666 of Title 15. For
`complete classification of this Act to the Code, see
`Short Title of 1974 Amendment note set out under sec(cid:173)
`tion 1601 of Title 15 and Tables.
`The Fair Credit Reporting Act, referred to in par.
`(12)(F), is title VI of Pub. L . 90-321, as added by Pub. L.
`91-508, title VI, §601, Oct. 26, 1970, 84 Stat. 1127, which
`is classified generally to subchapter III (§ 1681 et seq.) of
`chapter 41 of Title 15, Commerce and Trade. For com(cid:173)
`plete classif!cation of this Act to the Code, see Short
`Title note set out under section 1601 of Title 15 and
`Tables.
`The Homeowners Protection Act of 1998, referred to
`in par. (12)(G), is Pub. L. 105-216, July 29, 1998, 112 Stat.
`897, which is classified principally to chapter 49 (§ 4901
`et seq.) of this title. For complete classification of this
`Act to the Code, see Short Title note set out under sec(cid:173)
`tion 4901 of this ti tie and Tables.
`The Fair Debt Collection Practices Act, referred to in
`par. (12)(H), is title VIII of Pub. L . 91>-321, as added by
`Pub. L. 95-109, Sept. 20, 1977, 91 Stat. 874, which is clas(cid:173)
`sified generally to subchapter V (§ 1692 et seq.) of chap(cid:173)
`ter 41 of Title 15, Commerce and Trade. For complete
`classification of this Act to the Code, see Short Ti tie
`note set out under section 1601 of Title 15 and Tables.
`The Home Mortgage Disclosure Act of 1975, referred
`to in par. (12)(K), is title III of Pub. L. 94-200, Dec. 31,
`1975, 89 Stat. 1125, which is classified principally to
`chapter 29 (§ 2801 et seq.) of this title. For complete
`classification of this Act to the Code, see Short Title
`note set out under section 2801 of this title and Tables.
`The Home Ownership and Equity Protection Act of
`1994, referred to in par. (12)(L), is subtitle B (§§151-158)
`of title I of Pub. L. 103-325, Sept. 23, 1994, 108 Stat. 2190,
`which enacted sections 1639 and 1648 of Title 15, Com(cid:173)
`merce and Trade, amended sections 1602, 1604, 1610, 1640,
`1641, and 1647 of Title 15, and enacted provisions set out
`as notes under sections 1601 and 1602 of Title 15. For
`complete classification of this Act to the Code, see
`Short Title of 1994 Amendment note set out under sec(cid:173)
`tion 1601 of Title 15 and Tables.
`The Real Estate Settlement Procedures Act of 1974,
`referred to in par. (12)(M), is Pub. L. 9!h533, Dec. 22,
`1974, 88 Stat. 1724, which is classified principally to
`chapter 27 (§2601 et seq.) of this title. For complete
`classification of this Act to the Code, see Short Title
`note set out under section 2601 of this title and Tables.
`The S.A.F.E. Mortgage Licensing Act of 2008, referred
`to in par. (12)(N), is title V of div. A of Pub. L. 111>-289,
`
`July 30, 2008, 122 Stat. 2810, also known as the Secure
`and Fair Enforcement for Mortgage Licensing Act of
`2008, which is classified generally to chapter 51 (§5101 et
`seq.) of this title. For complete classification of this
`Act to the Code, see Short Title note set out under sec(cid:173)
`tion 5101 of this title and Tables.
`The Truth in Lending Act, referred to in p