§ 10202. Definitions
As used in this subchapter:
(1)(A) “Account verification service” means any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of:
(i) assembling information on the frequency and location of depository account openings or attempted openings by a consumer, or forced closings by a depository institution of accounts of a consumer; or
(ii) authenticating or validating Social Security numbers or addresses for the purpose of reporting to third parties for use in fraud prevention.
(B) Mailing such information to a customer to the address provided by such customer shall not be prohibited by this subchapter.
(2) “Credit reporting agency” means any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of reporting to third parties on the credit rating or creditworthiness of any consumer.
(3) “Customer” means, for purposes of this subchapter, any person who deposits, borrows, or invests with a regulated entity, including a surety or a guarantor on a loan.
(4) “Financial information” means an original or copy of, or information derived from:
(A) a document that grants signature authority over a deposit or share account;
(B) a statement, ledger card, or other record of a deposit or share account that shows transactions in or with respect to that deposit or account;
(C) a check, clear draft, or money order that is drawn on a regulated entity or issued and payable by or through a regulated entity;
(D) any item, other than an institutional or periodic charge, that is made under an agreement between a regulated entity and another person’s deposit or share account;
(E) any information that relates to a loan account or an application for a loan; or
(F) evidence of a transaction conducted by electronic or telephonic means.
(5) “Mercantile agency” means any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating business credit information or other information on businesses for the purpose of reporting to third parties on the credit rating or creditworthiness of any business.
(6) “Regulated entity” means a person required to be licensed or chartered pursuant to Part 2 of this title, an entity organized under the laws of another state that is regulated by its home state in an equivalent manner to an independent trust company chartered pursuant to chapter 77 of this title, a financial institution, a credit union, branches and agencies of foreign banks, and subsidiaries of any such person. (Added 1999, No. 153 (Adj. Sess.), § 2, eff. Jan. 1, 2001; amended 2025, No. 142 (Adj. Sess.), § 17, eff. July 1, 2026.)