Section 407.637 - Credit service organization - exemptions1. A credit services organization is a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services: (1) Improving the buyer's credit record, history or rating;(2) Obtaining an extension of credit for a buyer; or(3) Providing advice or assistance to a buyer with regard to subdivision (1) or (2) of this subsection.2. The following are exempt from the provisions of sections 407.635 to 407.644: (1) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the federal National Housing Act, 12 U.S.C. Section 1701, et seq.;(2) A bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation, or a subsidiary of such a bank or savings and loan association;(3) A credit union doing business in this state;(4) A nonprofit organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code;(5) A person licensed as a real estate broker or salesperson pursuant to chapter 339 acting within the course and scope of that license;(6) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney;(7) A broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation;(8) A consumer reporting agency;(9) A person whose primary business is making loans secured by liens on real property;(10) A person who is licensed as a certified public accountant pursuant to chapter 326 acting within the course and scope of that license; or an individual who is enrolled to practice before the Internal Revenue Service; or an accountant, who is accredited by the Accreditation Council for Accountancy.