Financial Trades Back FCC Changes To ‘Revoke All’ Rule
By CU Today Staff —
WASHINGTON—The Defense Credit Union Council and America’s Credit Unions have joined other financial services trade groups in urging the Federal Communications Commission to move forward with proposed revisions to its “revoke all” rule.
Also signing the comment letter were the American Bankers Association, ACA International, American Financial Services Association, Consumer Bankers Association, Electronic Transactions Association and Student Loan Servicing Alliance. The groups expressed support for the FCC’s draft Report and Order and Further Notice of Proposed Rulemaking addressing the rule.
The associations urged the FCC to expand the time period for a business to send a follow-up text message (to clarify the scope of the consumer’s revocation request) to “a reasonable time not to exceed the end of the next business day.”
In addition, the associations supported the FCC’s draft revisions to the provided number condition that allows a caller to place an exempted call to a number that it acquired through a “reliable source,” which the FCC defines as a wireless telephone number “supplied by a spouse or other family member who is authorized to be on the account; obtained when the customer calls the financial institution; or included in records obtained from another financial institution.”
Originally reported by CU Today.