Wednesday, October 22, 2014

Remove Barriers to Time-Sensitive Mobile Calls and Texts

ABA last week asked the Federal Communications Commission to remove barriers to time-sensitive mobile calls and texts that financial institutions use to reach their customers when their accounts may be compromised.

ABA requested exemptions for communications that would alert customers to potentially fraudulent transactions, actions needed to complete pending money transfers and actions necessary to respond to data breaches.

ABA filed the petition because class action suits filed under the Telephone Consumer Protection Act currently limit financial institutions’ ability to offer these communications, even though most consumers prefer mobile fraud and security alerts.

Read the petition.
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