Telephone Consumer Protection Act: What You Need to Know About the New Requirements
To the FCC, an autodialer includes equipment which has the
“capacity” to autodial numbers – even if the equipment isn’t used that way.
Does your institution use an autodialer to contact consumers without the required consent? Are you certain? With statutory damages of $500 per violation ($1,500 for willful violations) and high litigation risks, ensuring compliance has never been more important.
In July 2015, the Federal Communications Commission (FCC) issued a Declaratory Ruling and Order on the Telephone Consumer Protection Act (TCPA) that has almost every business (including financial institutions) analyzing their procedures. The TCPA governs marketing calls, collection calls, text messages, and other communications – including fraud alerts – that are made by financial institutions. The FCC’s order, which was effective immediately, increased compliance and litigation risks by taking an expansive definition of an “automatic telephone dialing system” (autodialer) and providing limited exemptions from the consent requirements.
Under the FCC’s order, an autodialer includes equipment which has the “capacity” to autodial numbers even if the equipment does not currently or presently utilize that ability. This webinar will explain the main requirements of the TCPA and the FCC’s order to help your institution avoid fines and expensive litigation.
Recorded February 16, 2016
Continuing Education: Attendance verification for CE credits upon request
- Summary of the key aspects of the FCC’s order
- The FCC’s definition of an “automatic telephone dialing system” (autodialer)
- Type of consent required for each type of call (marketing, collection, and calls to cell phones)
- Best practices for obtaining and updating consent
- Consumer consent revocation and risks related to updated or reassigned phone numbers
- Steps necessary to qualify for exceptions
- TAKE-AWAY TOOLKIT
- Summary of the TCPA’s prior express written consent requirement
- Fact sheet outlining type of consent required for each type of call
- Summary of four types of exempt calls
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is directed to marketing, collections, compliance, and audit teams. Multiple departments are responsible for ensuring the institution has the appropriate consent to contact individuals.
Webinar content is subject to copyright and intended for your individual financial institution’s use only.
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