2020Directory_FNL_FlippingBook

Compliance Obligation

Federal Laws that Apply

Violations / Penalties

Telemarketing Restrictions Continued...

FTC Telemarketing Sales Rule and Telephone Consumer Protection Act (TCPA) Continued...

continuing violation, or imprisonment of not more than 1 year or both; for repeat violations following an initial conviction, an individual could be fined not more than $10,000 or imprisoned not more than 2 years, or both. 47 U.S.C. § 227(e); 47 U.S.C. § 501. • GLB violations: The FTC enforces the Safeguards Rule and the Disposal Rule. It may seek injunctive relief, with potential for damages of up to $42,530 per violation if FTC enters into an enforcement decree. 16 C.F.R. § 1.98 • FCRA violations (FTC): $3,993 for a knowing violation, which constitutes a pattern or practice of violations. 15 U.S.C. § 1681s(a)(2)(A); 16 C.F.R. § 1.9 8. Any violation of the FCRA also violates FTC Act § 5, with potential for damages of up to $42,530 per violation if FTC enters into an enforcement decree. 15 U.S.C. § 1681s(a)(1); 16 C.F.R. § 1.98. • FCRA violations (Private right of action). For negligent violations under private action: actual damages and the costs of the action together with reasonable attorney’s fees. 15 U.S.C. § 1681o. For willful violations under private action: actual damages or statutory damages of not less than $100 and not more than $1,000 per violation, punitive damage liability with no cap, and costs of the action together with reasonable attorney’s fees. 15 U.S.C. § 1681n. • May constitute an FTC § 5 UDAP violation. 15 U.S.C. § 45(m)(1). • Consumer can recover actual damages, and remedies available under state law. 15 U.S.C. § 2310(d).

HOT TOPICS

GLB, FCRA, FTC Safeguards Rule, FTC Disposal Rule

Safeguarding Customer Information and Secure Disposal

Magnuson-Moss Warranty Act

Warranty Disclosures

225 2020 MEMBERSHIP DIRECTORY & SERVICES GUIDE