As used in this article:

Terms Used In N.Y. General Business Law 458-B

  • Consumer: means any natural person who is solicited to purchase or who purchases the services of a credit services business. See N.Y. General Business Law 458-B
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Credit services business: means any person who sells, provides, or performs, or represents that he can or will sell, provide or perform, a service for the express or implied purpose of improving a consumer's credit record, history, or rating or providing advice or assistance to a consumer with regard to the consumer's credit record history or rating in return for the payment of a fee. See N.Y. General Business Law 458-B
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes an individual, corporation, partnership, joint venture, or any business entity. See N.Y. General Business Law 458-B

1. “Credit services business” means any person who sells, provides, or performs, or represents that he can or will sell, provide or perform, a service for the express or implied purpose of improving a consumer‘s credit record, history, or rating or providing advice or assistance to a consumer with regard to the consumer’s credit record history or rating in return for the payment of a fee.

“Credit services business” does not include any of the following:

(a) Any charitable corporation as defined in paragraph (a) of section one hundred two (Definitions) of the not-for-profit corporation law licensed pursuant to article twelve-c of the banking law.

(b) Any person admitted to practice law in this state where the person renders services within the course and scope of his or her practice as an attorney at law.

2. “Consumer” means any natural person who is solicited to purchase or who purchases the services of a credit services business.

3. “Person” includes an individual, corporation, partnership, joint venture, or any business entity.

4. The terms “consumer reporting agency”, “consumer report”, “investigative consumer report”, “file”, and “adverse information” shall have the meanings ascribed to each by section three hundred eighty-a of this chapter.