TCPA and TSR Flashcards
A bank is preparing a telephone marketing campaign to existing customers who have high balance CD accounts. The bank has determined that a significant number of the selected customers are listed on the national Do Not Call list, but not listed on the bank’s internal Do Not Call list. The marketing department does not want to exclude any customers from this marketing campaign. What should the bank be advised?
A. They may call all customers selected for this marketing campaign.
B. They may only call customers who are not listed on the OFAC list.
C. They may only call customers not listed on the national Do Not Call list.
D. They should first determine whether those customers have opted-out under the CAN-SPAM Act.
A. They may call all customers selected for this marketing campaign.
When reviewing changes to a bank’s products, which of the following is of MOST concern?
A. The use of prerecorded telephone calls to contact customers
B. The product’s use of existing prescreen approval processes
C. The product’s disclosures containing the required information
D. The advertising’s inclusion of a diverse group of people
A. The use of prerecorded telephone calls to contact customers
Prerecorded telephone calls to customers do not have the possibility of addressing customer questions or concerns. That would take a separate, affirmative communication from the customer to the bank, and is a concern that information would not be sufficiently conveyed. Existing prescreen approval processes and disclosures of required information are not a concern from a compliance perspective, and advertising to a diverse group of people mitigates fair lending and UDAP/UDAAP risk.
The compliance professional has been asked to provide expertise on a project that involves bank employees calling individuals and selling them bank products and services. What is the BEST response?
A. Explain that bank personnel must be trained. If an individual requests not to receive calls, the bank must record the request and place the individual’s name and address on the Do Not Call list. The bank must provide the name of the bank and a telephone number or address to contact the bank.
B. Explain that bank personnel must be trained. If an individual requests not to receive calls, the bank must record the request and place the individual’s name and telephone number on the Do Not Call list. The bank must provide the name of the bank employee making the call, the name of the bank, and a telephone number or address to contact the bank.
C. Explain that the bank should not be making telemarketing calls. The amount of time it would take to be in compliance with regulations involving bank employees calling individuals to sell bank products and services makes it not worth the effort.
D. Explain that if an individual requests not to receive calls from the bank, the bank must tell them to call the Federal Trade Commission number to be added to the Do Not Call list. The bank must provide the name of the bank and must not leave a message on the individual’s voicemail.
B. Explain that bank personnel must be trained. If an individual requests not to receive calls, the bank must record the request and place the individual’s name and telephone number on the Do Not Call list. The bank must provide the name of the bank employee making the call, the name of the bank, and a telephone number or address to contact the bank.
Bank employees may call individuals and sell bank products and services, but compliance with the TCPA’s Do-Not-Call rules is required. The training of these requirements is necessary, and if the individual requests not to receive these types of calls, the individual’s number must be placed on the Do-Not-Call list of the bank, rather than notify the FTC. The employee’s name making the call must be provided.
A bank is using pre-recorded marketing calls for a new marketing campaign. Which of the following is EXEMPT from the pre-recorded marketing message?
A. Name of the bank
B. Bank mailing address
C. Bank telephone number
D. Telephone number to opt-out of future marketing calls
B. Bank mailing address
The bank has received a number of complaints regarding collection calls made by the bank’s debt collection department. Customers are complaining that they had both registered their phone numbers with the federal Do-Not-Call List, as well as told the bank not to call with these types of messages. What is the BEST course of action the bank should take?
A. Nothing; these types of calls are not prohibited under the Telephone Consumer Protection Act (TCPA)
B. Implement new procedure guidelines to screen the telephone numbers against the federal Do-Not-Call List, and cease calling numbers that are on the list
C. Retrain the debt collection employees to honor customers’ requests to not call with collection messages
D. Conduct an investigation to determine the number of collection calls made in violation of the Telephone Consumer Protection Act (TCPA)
A. Nothing; these types of calls are not prohibited under the Telephone Consumer Protection Act (TCPA)
The Do-Not-Call provisions of the TCPA apply to promotional telephone calls only; they do not apply to transactions messages, including collection calls. Even if a consumer complains that a collection call was made despite his/her number being placed on the FTC’s list, the bank need not discontinue such calls. No retraining of employees or investigations is necessary.
