Hood Endorses Trade Groups’ Petition to FCC to Allow Robocalls

National Credit Union Administration Chairman Rodney Hood is lending support to credit union trade groups seeking an exemption from Federal Communication Commission rules to allow banks and credit unions to make automated telephone calls during the coronavirus crisis.

“Consumers may benefit from additional information about the various loan relief programs and options that may be available to them,” Hood wrote in a letter to FCC Chairman Ajit Pai last week.

Financial trade groups, including the Credit Union National Association (CUNA) and the National Association of Federally-Insured Credit Unions (NAFCU) petitioned the commission in March to allow banks and credit unions to make robocalls to consumers. When the groups filed the petition, they asked for it to be considered under an emergency process. Instead, the commission allowed a 45-day comment period, which ended last Thursday.

Hood said the groups would like the commission to allow robocalls communicating options for loan modification, changes to how consumers may access their institution’s services and consumer protection warnings.

“The NCUA has supported and encouraged federally insured credit unions in their efforts to provide credit union members with prudent debt relief and help members understand the range of relief possibilities,” Hood wrote. He noted that credit unions and banks would remain subject to all other consumer protection laws.

CFPB Director Kathy Kraninger also has sent a letter to the commission supporting the temporary waiver.

Related:

Credit Union Trade Groups Push FCC to Allow Robocalls During Coronavirus Pandemic

Letter from Rodney Hood to the Federal Communication Commission

Letter from Kathy Kraninger to the Federal Communication Commission

Spread the word. Share this post!