CUNA staff outlined some of the onerous requirements of the July 2015 Telephone Consumer Protection Act (TCPA) order in a meeting this week with the staff of Federal Communications Commission (FCC) Chairman Ajit Pai. CUNA explained how these requirements are making it difficult for credit unions of all sizes to communicate with members on their cellphone and via text message.
The meeting is a continuation of CUNA efforts for relief for credit unions from TCPA order, which has made it difficult to be in communication with members, and has exposed credit union to potential frivolous class action litigation.
During this week’s meeting, CUNA highlighted problems surrounding:
CUNA highlighted the different structure of credit unions, including member-ownership, and how class action litigation results in members essentially suing themselves.
CUNA also discussed how consumers are harmed by the guidance, which has led to members not receiving information they want and need and talked about how other regulators have actually encouraged credit unions to be in more frequent communication with consumers.
More information on this week’s meeting can be found at CUNA’s Removing Barriers Blog.