Banking Industry: 2024 Order Overly Broad in Stopping Messaging
The FCC's February 2024 robocall and robotext order (see 2402160048) that stops consumers from receiving unwanted messages seems overly broad, going even beyond what consumers want, according to financial organizations. In a docket 02-278 filing Wednesday recapping a meeting with…
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FCC Chairman Brendan Carr's office, the institutions said that under the order, a consumer who replies "stop" to revoke consent for a type of message from a financial institution will stop all other phone or text communications from it. In addition, the order's requirements about processing revocations sent to one business unit so that all business units must stop calling or texting is "substantial work," especially for big institutions with numerous business units and separate calling systems. And they said the effective date for this provision of the order -- April 4 -- was set in October, giving only six months for implementation. The agency should waive revocation rules for one year, to April 11, 2026, they said. Meeting with Carr's office were representatives of the American Bankers Association, America’s Credit Unions, American Financial Services Association, ACA International -- formerly the American Collectors Association -- and Mortgage Bankers Association.