New FTC Rules Set for Pre-Approved Offers

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New rules for pre-approved credit card and insurance offers require additional disclosures about the consumer's right to opt out of such marketing, the Federal Trade Commission said this week.


Marketers of pre-approved credit cards need to include "layered" disclosures in their solicitations. Disclosures must contain a short introductory disclosure, including a toll-free number to call to opt out, followed by a long notice giving detailed opt-out information.


The short notice must appear on the document designed to be seen first by the consumer, including the cover letter. The new rule also specifies format, type size and presentation requirements for the notices.


The FTC enacted the rule changes under the Fair and Accurate Credit Transactions Act of 2003, which requires "simple and easy to understand" disclosures. It first proposed these changes in September 2004.


Scott Hovanyetz covers telemarketing, production and printing and direct response TV marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters


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