; or (II) that is owned, operated, or sponsored by a foreign state entity. (ii) Updating of list Not less frequently than once every 2 years after the date on which the Board establishes the public list required under clause (i), the Board, in consultation with the Secretary of the Treasury, shall update that list. (E) Definitions In this paragraph— (i) the terms card issuer and creditor have the meanings given the terms in section 103 of the Truth in Lending Act ( 15 U.S.C. 1602 ); (ii) the term covered card issuer means a card issuer that, together with the affiliates of the card issuer, has assets of more than $100,000,000,000; (iii) the term credit card issued in a 3-party payment system model means a credit card issued by a card issuer that is— (I) the payment card network with respect to the credit card; or (II) under common ownership with the payment card network with respect to the credit card; (iv) the term electronic credit transaction — (I) means a transaction in which a person uses a credit card; and (II) includes a transaction in which a person does not physically present a credit card for payment, including a transaction involving the entry of credit card information onto, or use of credit card information in conjunction with, a website interface or a mobile telephone application; and (v) the term licensed member includes, with respect to a payment card network— (I) a creditor or card issuer that is authorized to issue credit cards bearing any logo of the payment card network; and (II) any person, including any financial institution and any person that may be referred to as an acquirer , that is authorized to— (aa) screen and accept any person into any program under which that person may accept, for payment for goods or services, a credit card bearing any logo of the payment card network; (bb) process transactions on behalf of any person who accepts credit cards for payments; and (cc) complete financial settlement of any transaction on behalf of a person who accepts credit cards for payments.