FCC declaratory ruling could affect member communications via telephone or text

We need your help to ensure the FCC delays this ruling and takes more time to consider stakeholder concerns.

The Cornerstone Credit Union League is joining with CUNA in calling on member credit unions to help stop actions by the Federal Communications Commission that would further complicate or erode your ability to relay information and implement consumer protections regarding fraud, privacy, and account activity.

On June 6, the FCC will consider a declaratory ruling that could potentially endanger not only consumers' financial well-being, but also safe and sound credit union practices. Specifically, the FCC will consider allowing telephone providers to:

• Block calls from callers it suspects are using autodialers; and
• Give consumers the ability to block all calls from phone numbers that are not in the consumers' contact list.

If approved, these changes would become effective immediately.

The FCC's ruling conflicts with the encouragement the Consumer Financial Protection Bureau, National Credit Union Administration, and other financial regulators have given financial institutions about using modern communication methods to provide time-sensitive account information to members.

The FCC is accepting comments on this proposal only through May 30. Make your voice heard on this important matter by visiting the Grassroots Action Center.

If you have any questions or concerns, contact Jim Phelps, chief government relations officer/SVP, at 469-385-6481.