WASHINGTON - Banks, thrifts, and federal credit unions have been exempted from the Federal Trade Commission's telemarketing sales rule, which takes effect Jan 1.

The final rule states that "compliance with the credit disclosure requirements and the timing of those disclosures mandated by the Truth-in- Lending Act and Reg. Z will constitute compliance with the total cost and quantity disclosures required under the rule."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.