The investigation found "Discover's telemarketing scripts contained many
misrepresentations, implying that these products were free of charge and
simply 'added benefits'," CFPB director Richard Cordray told reporters.
Regulators also found in some cases that telemarketers had been paid
incentives to enroll customers in the add-on products, Mr Cordray added.
As part of the settlement, Discover agreed to change its telemarketing
approach and employ an independent auditor.
First ... to all you people who say large companies don't tele market..
I guess this proves you wrong .. eh?
Also, there is a lesson to be learned here. you cannot get
away with lying, misleading, or stretching the truth forever.
Also, one sentence, heck.. even one word in your script can
make what you say or do illegal.
Its YOUR responsibility to be compliant.
If you are planning on growing a real business, once
you get to the point of hiring reps, you should pay
a compliance officer to run through your script.
It will potentially save you a lot of time, money and aggravation.
A thing i never hear talked about here, is compliance...
for instance, i never hear any one saying things like
I hear the word guaranteed ... A LOT.
Did you know, in some states, for some products.
it is actually ILLEGAL to make ANY TYPE of guarantee?
Did you know some states cap the amount of a legal phone sale?
Did you know that if its illegal in California, and you call from
New York, you can be held accountable --- but not if you call from
These are important things to know, and that is exactly what
compliance officers are payed to make you aware of.
forewarned is forearmed.
I just saw this article, and thought it would make interesting
discussion for all the phone sales people.