Telephone Consumer Protection Act Compliance

The Federal Communications Commission (FCC) is not making it easy on financial institutions as they continue to be punished for the sins of others. The law itself is not new, but it has not aged well as technology and consumer behavior has stretched the competence of FCC logic to the breaking point. To make matters worse, courts across the country are coming up with substantially different interpretations of the law.

The Telephone Consumer Protection Act (TCPA) regulates almost all aspects of outbound telephone use, including telemarketing calls, autodialed calls, prerecorded calls, and text messages, and it led to the National Do Not Call Registry. Consumer protection attorneys continue to file lawsuits against poorly prepared institutions and the CFPB receives continuous complaints. Your institution needs to create a system that collects, verifies, and effectively utilizes cell phone information. Then add different layers of consent based on the type of communication. Are you in compliance? Join financial services attorney David Reed as he cuts through the regulatory speak and offers a clear, compliant manner to use the best texting has to offer, while mitigating the compliance risk.