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CUNA Looking for TCPA Modernization ‘First Step’ at Hearing
Wednesday, September 21, 2016 6:50 AM

Thursday’s hearing on the Telephone Consumer Protection Act (TCPA) will be a good first step toward highlighting ways to modernize the act, Credit Union National Association believes. CUNA has expressed a number of concerns with a TCPA ruling made in July 2015, and has requested Congress conduct a hearing on the topic.

CUNA believes the Federal Communications Commission’s July 2015 ruling has impacted credit unions’ ability to contact members with important account information because of a lack of clarity about what is considered an autodialer and other onerous compliance requirements.

“We’ll be following this hearing very closely and encouraging the committee, as it looks to modernize the TCPA, to make sure that financial institutions can interact with their members and customers, particularly when other regulators have encouraged them to do so,” said CUNA Chief Advocacy Officer Ryan Donovan.

Some of CUNA’s concerns include:

  • The difficulty and in some instances impossibility of qualifying for the exemption for financial institutions; 
  • A problematic expansion of what is considered an autodialer;
  • Ambiguity about how consumers can revoke consent for autodialed calls; and
  • Increased possibility of liability when calling a re-assigned number.

The hearing, conducted by the House Energy and Commerce communications and technology subcommittee, will take place Thursday, starting at 11 a.m. (ET), and will be streamed live.

Other hearings this week that CUNA will be monitoring include:

  • Thursday, 10 a.m. (ET): House Financial Services Committee, annual report of the Financial Stability Oversight Council;
     
  • Thursday, 2 p.m. (ET): House Financial Services subcommittee on capital markets and government sponsored enterprises, “Examining the Agenda of Regulators, Self-Regulatory Organizations and Standards-Setters for Accounting, Auditing and Municipal Securities;” and
     
  • Friday, 9:15 a.m. (ET): House Financial Services Committee subcommittee on monetary policy and trade, "The Financial Stability Board's Implications for U.S. Growth and Competitiveness."