LD 686
pg. 3
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LR 654
Item 1

 
(2) Arranging for or obtaining an extension of credit
for a consumer; or

 
(3) Providing advice or assistance to a consumer with
respect to subparagraph (1) or (2).

 
B. "Credit services organization Loan broker" does not
include:

 
(1) A supervised financial organization;

 
(2) A supervised lender other than a supervised
financial organization, except that, with respect to
any transaction in which a supervised lender other than
a supervised financial organization is acting solely as
a credit services organization loan broker, section 10-
302 applies;

 
(3) A person licensed by the Real Estate Commission to
the extent that the person is engaged in activities
regulated by that commission;

 
(4) A person currently admitted to the practice of law
in this State;

 
(5) Any nonprofit organization exempt from taxation
under the United States Internal Revenue Code, Section
501(c)(3) to the extent that the organization's
activities are consistent with those set forth in its
application for tax exemption to the Internal Revenue
Service;

 
(6) A consumer reporting agency, as defined in the
Fair Credit Reporting Act, Title 10, chapter 210;

 
(7) An affiliate of a supervised lender when the
affiliate provides services described in paragraph A,
subparagraph (1), (2) or (3) for or on behalf of that
supervised lender and when the affiliate is not
compensated by the consumer for those services;

 
(8) An employee of a supervised lender or an employee
of an affiliate of a supervised lender when the
employee provides services described in paragraph A,
subparagraph (1), (2) or (3) for or on behalf of that
supervised lender or affiliate and when the employee or
the affiliate is not compensated by the consumer for
those services;


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