ABA Banking Journal - January/February 2016 - (Page 52)

> ABA COMPLIANCE CENTER INBOX Can We Text Updates to the Kids in Our Savings Club? Q: Our bank offers a savings account club for children between 13-18 years of age. Our marketing department would like to begin sending texts to these children to remind them about upcoming events like our scholarship classes or when the scholarship applications are due. Can we do this? The texting activity would be subject to the Telephone Consumer Protection Act (TCPA), which requires that you obtain the "called party's" prior express consent. However, because these are minors, the safest approach is to receive consent from the subscriber (i.e., the parent). If you want to dig deeper into the issue, it is not clear that consent must be obtained from the subscriber and not from the minor child. First, many states' laws provide that a minor can give consent to engage in commercial transactions all the time, some of which involve their consenting to something asked by the seller. Second, the FCC has stated that a person who is not the current subscriber of the number may give consent to receive messages at that number. In its July Declaratory Ruling and Order, the FCC stated that in order to obtain prior express consent for the call, a caller must have the consent of the "current subscriber to or customary user of the number." This does not address the question of whether a minor can consent, but it does indicate that a person other than the subscriber may give consent. 52 ABA BANKING JOURNAL | JANUARY/FEBRUARY 2016 But, as stated above, the safest course is to obtain consent from the subscriber. (Response provided Oct. 2015) Q: I think I understand the new flood rules regarding the detached structure exemption, but I have a slightly different question. We have a borrower who wants to purchase some land for recreational purposes. The land is located in a flood zone and contains a storage barn and two RV ports that have a roof and solid back wall that contains hook-ups for water and electric for the RVs. The front of the RV port is supported by two metal poles. Can these structures be exempted from the flood insurance requirements under the detached structure exemption? If not, is there any other way our bank can exempt the structures from the flood insurance requirements? To your first question regarding the detached structure exemption, no. The § 22.4 Exemptions state that

Table of Contents for the Digital Edition of ABA Banking Journal - January/February 2016

President's View
Upfront
Picture This
Economic Outlook
Community Engagement
Cover Story: Train To Your Advantage
Filling The Trust Gap
Banking In The Sweet Spot
Safe Banking, Savvy Seniors
Human Resources
Payments
Marketing
Agricultural Banking
Board Matters
ABA Compliance Center Inbox
Legal Briefs
From The States
Corporate Social Responsibility
Index of Advertisers

ABA Banking Journal - January/February 2016

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