New FACT Act Rules and Regulations - Part 1 of a 2 Part Series
31-Jul-2008
New rules and regulations under the Fair and Accurate Credit Transactions Act of 2003 will go into effect this Fall.
The Affiliate Marketing Regulations go into effect on October 1, 2008. These regulations, issued by the Federal Trade Commission and the Federal banking agencies, apply to companies that share information for marketing purposes with affiliated companies such as subsidiaries or sister companies. These regulations generally require a company to notify consumers that their information may be shared with affiliated companies and to provide an opportunity to opt out before the affiliated company is allowed to use certain information for marketing purposes.
To find out whether these new regulations affect your brokerage firm, logon to the NAR website, click on the Government Affairs section, and search FACT Act Affiliate Marketing Regulations.
New rules and regulations under the Fair and Accurate Credit Transactions Act of 2003 will go into effect this Fall.
The Affiliate Marketing Regulations go into effect on October 1, 2008. These regulations, issued by the Federal Trade Commission and the Federal banking agencies, apply to companies that share information for marketing purposes with affiliated companies such as subsidiaries or sister companies. These regulations generally require a company to notify consumers that their information may be shared with affiliated companies and to provide an opportunity to opt out before the affiliated company is allowed to use certain information for marketing purposes.
To find out whether these new regulations affect your brokerage firm, logon to the NAR website, click on the Government Affairs section, and search FACT Act Affiliate Marketing Regulations.
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