(a)
The definitions and rules of construction set forth in this section are applicable for the purposes of this subchapter.
(b)
The term “
applicant” means any
person who applies to a
creditor directly for an extension, renewal, or continuation of
credit, or applies to a
creditor indirectly by use of an existing
credit plan for an amount exceeding a previously established
credit limit.
(c)
The term “
Bureau” means the
Bureau of Consumer Financial Protection.
(d)
The term “
credit” means the right granted by a
creditor to a debtor to defer payment of debt or to incur debts and defer its payment or to purchase property or services and defer payment therefor.
(e)
The term “
creditor” means any
person who regularly extends, renews, or continues
credit; any
person who regularly arranges for the extension, renewal, or continuation of
credit; or any assignee of an original
creditor who participates in the decision to extend, renew, or continue
credit.
(f)
The term “
person” means a natural
person, a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association.
(g)
Any reference to any requirement imposed under this subchapter or any provision thereof includes reference to the regulations of the
Bureau under this subchapter or the provision thereof in question.
(
Pub. L. 90–321, title VII, § 702, as added
Pub. L. 93–495, title V, § 503,
Oct. 28, 1974,
88 Stat. 1522; amended
Pub. L. 111–203, title X, § 1085(1), (2),
July 21, 2010,
124 Stat. 2083.)
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