WASHINGTON (8/5/15)--CUNA is concerned about a recent Federal Communications Commission (FCC) ruling, and wrote to the National Credit Union Administration this week expressing concerns about how the order will impact the ability of credit unions to communicate with their members.
While the NCUA does not have jurisdiction over the Telephone Consumer Protection Act (TCPA), CUNA’s letter urges their consumer protection office to advocate on behalf of credit unions to the FCC.
“We are concerned that the FCC’s TCPA Order could negatively affect credit union members and create yet another regulatory burden,” CUNA’s letter to the NCUA reads. “While the substantial compliance burdens associated with this Order are troubling, the fact that credit unions could be bait for frivolous and costly litigation in this area is even more distressing.”
The FCC issued a declaratory ruling in July concerning the TCPA.
CUNA’s concerns with the ruling include:
“While CUNA supports the concept of preserving consumers’ rights to privacy on their cell phones and protecting financial information, this order goes far beyond the scope or purpose of the TCPA--which incidentally was enacted in 1991 before cell phones and mobile devices were commonly used,” the letter reads. “The order disregards consumers’ preferences to use new technologies and modern forms of communication, and makes it more difficult for credit unions to communicate with their members about fraud, data breaches, and other pertinent account updates.”