HomeBlogOTA Supports American Bankers Assoication Petition to the FCC

OTA Supports American Bankers Assoication Petition to the FCC

OTA supports the petition for exemption of the Telephone Consumer Protection Act (TCPA) as requested by the ABA, limited to security and fraud prevention notification purposes and respectfully urges the Commission to grant the requested exemption. Doing so will facilitate prompt and efficient communication of time-sensitive information that can both limit the occurrence and impact of online crime and identity theft.

As 2014 has redefined the vulnerability of our critical infrastructure and as the sophistication of cybercriminals, it is critical to recognize it is in the best interest of consumers to provide effective and efficient means to notifiy impacted parties. Such communications would facilitate real time notifications reaching impacted users who increasingly rely on mobile devices for their personal and business communications.  For many demographics mobile devices are becoming the primary or sole communication device that they rely on.

Such notices have the ability to help prevent and mitigate the impact of many threats.  These range from bank account take overs and damages resulting from identity theft.  As a member of the FCC’s Communications Security, Reliability and Interoperability Council's (CSRIC), several of the recent working groups have reported that effective communications are critical to the mitigation of harm to consumers. 

Further data has been conclusive that relying on email alone has proven to be ineffective at best.  Often such email addresses on file are no longer used and are not checked often enough to effectively mitigate the threat.  Text messages and automated calls, however, are more likely to reach impacted parties quickly as consumers are more likely to have their mobile devices with them, enabling them to take action to mitigate fraudulent activities related to their banking accounts and credit cards.

As such, OTA supports the petition for exemption of the Telephone Consumer Protection Act (TCPA) as requested by the ABA, limited to security and fraud prevention notification purposes and respectfully urges the Commission to grant the requested exemption. Doing so will facilitate prompt and efficient communication of time-sensitive information that can both limit the occurrence and impact of online crime and identity theft.

Read OTA's Comments to the FCC