FACT ACT
One of the many studies mandated by the FACT Act will be the Federal Reserve's study of prescreened credit or insurance solicitations. The study must be completed by December 4, 2004. The study will center around the mechanisms available to consumers to avoid receiving presolicitations for credit or insurance. The FRB has posed several questions including the extent to which consumers currently use blocking procedures, costs related to offers or blocking offers, and current techniques for compliance. The FRB has requested comments on study concepts by July 23, 2004.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 5, 3/04
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