The Third Party Payment Processors Association (TPPPA) submitted its response to the FTC’s request for comments on several proposed changes to the Telemarketing Sales Rule, urging consistency in its rule making and restraint from unduly adding costly compliance burdens to legitimate business activity and increasing the costs of goods and services to consumers.
WASHINGTON, Aug. 3, 2022 /PRNewswire-PRWeb/ — The TPPPA, a national industry association representing payment processors and banks, responded to the Federal Trade Commission’s request for comment on proposed updates to the Telemarketing Sales Rule. In its response, the TPPPA urged the FTC to use a balanced approach to its rule making that aligns with its mission below:
The FTC’s mission is to protect consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity.
“The FTC has focused its extensive rule making on the first half of its mission to protect consumers,” said Marsha Jones, TPPPA President. “Unfortunately, the extensive compliance burden is crippling small businesses, impacting competition and increasing the cost of goods and services to consumers.”
“The flood of rulemaking by state and federal agencies, like the FTC, has had a severe effect on smaller businesses like our members,” said Marsha Jones, TPPPA President. “These actions unduly impact competition by dramatically increasing the cost of compliance to small business, as companies are forced to merge or be acquired, and ultimately impacts the cost of goods and services to consumers that are already struggling with inflation.”
The TPPPA’s response urges the FTC to take a balanced approach to its rule making and to recognize the impact its rule making has upon legitimate business activities.
Marsha Jones, Third Party Payment Processors Association, 888-662-0888, [email protected]
SOURCE Third Party Payment Processors Association