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In a new post on NAFCU’s Compliance, Risk, & BSA Network, Regulatory Affairs Counsel Dale Baker details new amendments to the Florida Telephone Solicitation Act (FTSA) that materially narrow the FTSA’s scope, leaving room for an increase in the variety, volume, and frequency of robocalls and robotexts.

Though the FTSA has never applied and still does not apply to  “supervised financial institutions” that operate within the scope of a “supervised activity,” Baker notes that credit unions should be aware of and regularly educate their members on phishing and related financial frauds often perpetrated using robocalls and robotexts.

Baker goes on to breakdown the FTSA and highlight several similarities between the bill and the Telephone Consumer Protection Act (TCPA) that led to the FTSA being nicknamed the “mini-TCPA.”

He concludes by outlining the amendments to the FTSA and explains that NAFCU will monitor the courts’ interpretations of the changes.

NAFCU’s Compliance, Risk, & BSA Network is a complimentary, member-only online community exclusively for credit union compliance professionals. Learn more about the NAFCU Networks.