FTC and FCC finalize "Do-Not-Call" telemarketing restrictions

The Federal Trade Commission and Federal Communication Commission have separately issued final regulations to create a single National Do-Not-Call Registry

Any business conducting telemarketing will be required to verify that a target telephone number does not exist in the directory. While the telemarketing restrictions allow organizations to call consumers when there exists an "established business relationship," institutions may want to carefully consider their customers' marketing preferences. Customers who take the effort to sign up to block telemarketing may not be receptive to sales pitches and may even react negatively to uninvited solicitations.

Banks that use telemarketing to contact or solicit customers either directly, or through a third-party, should review policies, procedures and contracts relating to telemarketing activities to ensure that they are in compliance with national and state "do-not-call" registries.