For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
“COVERED ACCOUNT.”
(1) An account that a financial institution or creditor offers or maintains, primarily for personal, family or household purposes, that involves or is designed to permit multiple payments or transactions. Covered accounts include credit card accounts, mortgage loans, automobile loans, margin accounts, cell phone accounts, utility accounts, checking accounts, savings accounts; and
(2) Any other account that the financial institution or creditor offers or maintains for which there is a reasonable foreseeable risk to customers, or to the safety and soundness of the financial institution or creditor, from identity theft, including financial, operational, compliance, reputation or litigation risks.
“CREDITOR.” Any entity that regularly extends, renews or continues credit, or regularly arranges for the extension, renewal or continuation of credit.
“CUSTOMER.” A person with a covered account with the city.
“IDENTITY THEFT.” Fraud committed or attempted using the identifying information of another person without authority.
(Res. 09-005, passed 7-14-09)