FARGO & COMPANY
TELEPHONE CONSUMER PROTECTION ACT
On December 20, 1992, the Telephone Consumer Protection Act went into effect. This law principally regulates the use of autodialers and other telecommunications equipment and general telemarketing efforts used by businesses involving calls to residential telephone numbers,
The law requires every business to have in place a system whereby a consumer, whether or not a current customer, may request the business not to make any further solicitations to the consumer's residential telephone number. A consumer can recover statutory damages of $500 for each violation of the "do not call" provisions of the law once it is established that the consumer requested not to be solicited by the business.
The Customer Information Services unit of Wells Fargo & Company has developed procedures for complying with the Telephone Consumer Protection Act and for maintaining the required "do not call" list These procedures have been incorporated into each Group's Current compliance program and all staff who have telemarketing responsibilities have been made aware of them.