Expanded telemarketing rules impact member outreach
Published by: Sean Brown
August 10, 2022 | Regulatory
The credit union difference is best activated when credit unions can freely connect with their member-owners without regulatory inference. That’s why your League responded to a recent Federal Trade Commission (FTC) notice of proposed rulemaking (NPRM) proposing expanded call records and record retention requirements that would inhibit credit union member outreach efforts. As prudentially regulated, member-owned financial cooperatives, credit unions already comply with a federal and state regulatory framework wrapped around member outreach. Credit unions use telemarketing services to connect with members, offer products and services, and to better position people, families, businesses, and communities for financial success. While this NPRM is intended to protect consumers and their privacy from deceptive and abusive telemarketers, it will impact the ability of credit unions to proactively work directly with their members.
Read the League’s own comment letter and connect with the League’s Director of Regulatory Affairs, Sean Brown, for any questions or concerns regarding the FTC’s notice of proposed rulemaking.
Contact Sean Brown for questions or assistance.
