Credit unions that make unsolicited sales calls to members may be affected by a bill signed last week by Gov. Kathy Hochul. Namely, the new legislation requires telemarketers to provide consumers the option to be added to a do-not-call list at the beginning of a call.
The bill, which will go into effect March 6, 2023, amends the General Business Law and specifically requires:
- the caller identify themselves or the person on whose behalf the solicitation is being made;
- the purpose of the call and the option to be automatically added to the seller’s do-not-call list be stated at the outset of the call;
- an explanation of the goods or services for which a fee will be charged; and
- whether the call is being recorded.
Under current law, telemarketers are required to inform individuals that they may request to be added to their company’s do-not-call list, however, consumers usually hang up before a telemarketer or recording has mentioned the do-not-call list. “By giving consumers the do-not-call list information at the onset of telemarketing calls, this legislation will ensure that New Yorkers are protected from incessant, unwanted calls,” said Hochul.
Credit unions with questions about the new telemarking law can contact Genevieve Caputo, director of compliance, New York Credit Union Association at genevieve.caputo@nycua.org or (800) 342-9835, ext. 8154.