Source: http://www.scribd.com/doc/60661349/FTC-Final-Published-Rules-Telemarketing-and-Debt-Relief
Timestamp: 2015-03-02 15:43:20
Document Index: 199765103

Matched Legal Cases: ['art 310', 'ART 310', '§ 310', 'art§ 310', '§ 310', '§ 310', '§ 310', '§ 310', '§ 310', '§ 310', '§ 310']

Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See moreDownloadStandard viewFull view of .Add to collectionMark as finishedMarked as finished. UndoRemove from libraryLook up keyword or sectionLike thisShare on social networks2Activity×Share to your social networks.TweetEmbedTable Of Contents16 CFR Part 310 Telemarketing Sales RuleSUPPLEMENTARY INFORMATION:I. Overview and BackgroundA. OverviewB. The Commission’s Authority Under the TSRC. Overview of Debt Relief Services1. Credit Counseling Agencies2. For-Profit Debt Settlement ServicesII.Overview of the Proposed Rule and Comments ReceivedIII.Summary of the Final Amended Rule and Comments ReceivedA. Section 310.1: ScopeB. Section 310.2: Definitions1. Breadth of Definition of Debt Relief Service2. Limitation to Unsecured Debts3. Coverage of Products4. Coverage of AttorneysC. Section 310.4: Abusive Telemarketing Acts or Practices - Advance Fee Ban1. Comments Supporting the Proposed Ban on Advance Fees2. Comments Opposing the Proposed Ban on Advance Fees for Debt ReliefServicesa. Point 1: Debt Relief Services Provide Benefits to a SignificantNumber of Consumers(1)Completion and Dropout Rates(2)Outcomes for Dropouts(3)Average Percentage Savings and Savings-to-Fee Ratios(4)Settlement Rates for All Enrollees(5)Testimonials from Satisfied Consumersb. Point 2: Debt Settlement is Superior to Other Debt Reliefc. Point 3: Numerous Debt Settlement Companies Will Go Outd. Point 4: Debt Settlement Companies Incur Significant Costs inProviding Pre-Settlement ServicesCompanies Get Paid and Consumers Fulfill Their Obligationsf. Point 6: The Advance Fee Ban Violates the First Amendmentg. Point 7: State Regulation Is Preferable to Federal Regulationh. Point 8: The TSR Is Not the Appropriate Vehicle forRegulating Debt Relief Servicesi. Point 9: Very Few Debt Relief Companies Are Engaged inAbuse, and the Services Are Not “Fundamentally Bogus”j. Point 10: An Advance Fee Ban Will Not Establish the ProperIncentives for Debt Settlement Companies3. The Commission’s Conclusion that Advance Fees for Debt ReliefMeet the Test for Unfairnessa. Advance Fees Charged by Debt Relief Services Cause or AreLikely to Cause Substantial Injury(1)Consumers are injured because they pay for services(2)The amount and timing of front-loaded fees in the debt(3)The context in which debt relief services are offered hasb. The Harm to Consumers Is Not Outweighed by CountervailingBenefits4. Recommendations to Restrict Other Abusive Practices5. The Advance Fee Ban – Final Rule AmendmentD. Section 310.3: Deceptive Telemarketing Acts or Practices1. Amendments to Section 310.3(a)(1): Debt Relief-Specific DisclosureObligations(1)Sections 310.3(a)(1)(viii)(A) and (B)(2)Section 310.3(a)(1)(viii)(C)(3)New Section 310.3(a)(1)(viii)(D)2. Proposed Disclosures Not Adopted in the Final Rule3. Application of Section 310.3(a)(1) to Debt Relief Services: GeneralDisclosure Obligations4. Timing of Required Disclosures5. Recommended Additional Changes to the Disclosure Provisions NotAdopted in the Final Rule6. Effective DateE. Sections 310.3(a)(2) & 310.3(a)(4): Misrepresentations1. Public Comments on Proposed Section 310.3(a)(2)(x)2. Final Section 310.3(a)(2)(x)3. Existing TSR Provisions Prohibiting Deceptive Representations andMisleading StatementsF. Section 310.6: ExemptionsG.Section 310.5: RecordkeepingIV.Paperwork Reduction ActA. Practical UtilityB. Explanation of Burden Estimates Under the Final RuleBurden Statement:Estimated Additional Annual Hours Burden: 43,375 hours1. Number of Respondents2. Recordkeeping Hours3. Disclosure HoursEstimated Annual Labor Cost: $945,361Estimated Annual Non-Labor Cost: $58,7534. Recordkeeping Labor and Non-Labor Costs5. Disclosure Labor and Non-Labor CostsV. Regulatory Analysis and Regulatory Flexibility Act RequirementsA. Need for and Objectives of the RuleB. Significant Issues Raised by Public Comment, Summary of the Agency’sCommentsC. Description and Estimate of the Number of Small Entities Subject to the FinalRule or Explanation Why No Estimate Is AvailableD. Description of the Projected Reporting, Recordkeeping, and OtherCompliance Requirements of the Rule, Including an Estimate of the Classes ofSmall Entities Which Will Be Subject to the Rule and the Type of ProfessionalSkills That Will Be Necessary to ComplyE. Steps the Agency Has Taken to Minimize any Significant Economic Impact onSmall Entities, Consistent with the Stated Objectives of the ApplicableStatutesList of Commenters and Short-Names/Acronyms Cited in the SBPTSR Debt Relief Final RuleShort-name/Acronyms CommenterList of FTC Law Enforcement Actions Against Debt Relief CompaniesList of State Law Enforcement Actions Against Debt Relief CompaniesDebt SettlementPublicly-Announced InvestigationsDebt NegotiationCredit CounselingFailure to RegisterVI.Final AmendmentsTELEMARKETING SALES RULE 16 C.F.R. PART 310§ 310.1 Scope of regulations in this part§ 310.2 Definitions§ 310.3 Deceptive telemarketing acts or practices§ 310.4 Abusive telemarketing acts or practices§ 310.5 Recordkeeping requirements§ 310.6 Exemptions§ 310.7 Actions by states and private persons§ 310.8 Fee for access to the National Do Not Call Registry§ 310.9 Severability0 of .Results for: No results containing your search query{{& result_text }}
P. 1FTC Final Published Rules - Telemarketing and Debt ReliefFTC Final Published Rules - Telemarketing and Debt ReliefRatings: (0)|Views: 124|Likes: 0Published by Norris LozanoMore info:Published by: Norris Lozano on Jul 22, 2011Copyright:Attribution Non-commercialAvailability:Read on Scribd mobile: iPhone, iPad and Android.download as PDF, TXT or read online from ScribdFlag for inappropriate content|Add to collectionSee moreSee lesshttps://www.scribd.com/doc/60661349/FTC-Final-Published-Rules-Telemarketing-and-Debt-Relief07/22/2011pdftextoriginal You're Reading a Free Preview
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