TO: Chief
Executive Officers and Compliance Officers of All National Banks, Department
and Division Heads, and All Examining Personnel
The Telephone Consumer Protection Act (TCPA), 47 USC 227,
and its implementing regulation, 47 CFR 64.1200, establish requirements for all
entities, including national banks, that conduct “telemarketing” either
directly or through a third party.
Under the TCPA, “telemarketing” is defined as the initiation of a telephone call or message to
any person for the purpose of encouraging the purchase or rental of, or
investment in, property, goods, or services. The law covers such calls and
messages even if made to existing customers.
Thus, even if an institution makes telemarketing calls
only to its existing customers, it is covered by the TCPA and must comply with
its requirements. These requirements include adopting a written policy for
maintaining a do-not-call (DNC) list, and providing that policy to any person
that requests it (even if that person is not a customer of the institution).
In addition, the institution must train all personnel engaged in any aspect of
telemarketing to ensure that they are familiar with the existence and use of
the DNC list.
The TCPA
provides for a private right of action for violations. Plaintiffs may
receive $500 per violation or actual damages, whichever is greater.
In November 2005, the Federal Financial Institutions
Examination Council’s Task Force on Consumer Compliance approved interagency
consumer compliance examination procedures for the TCPA. See OCC
Bulletin 2006-15, available at www.occ.treas.gov/ftp/bulletin/2006-15.txt.
Questions about the TCPA and its requirements may be
directed to your supervisory office, the Compliance Policy Department at (202)
874-4428, or the Community and Consumer Law Division at (202) 874-5750.
________________________
Julie L. Williams
First Senior Deputy Comptroller and Chief Counsel
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