WASHINGTON-The Federal Trade Commission is seeking public comments on a proposed regulation that would require companies to give consumers the opportunity to “opt out” of information sharing for marketing purposes with affiliates. The proposed rule would implement the affiliate marketing provisions of the Fair and Accurate Credit Transactions Act. Under the FACT Act, NCUA, the federal banking regulators and the Securities and Exchange Commission must also adopt comparable regulations. The FTC's proposal provides a prohibition on affiliate information sharing for marketing purposes unless the consumer is given the chance to opt out. Comments must be received by July 20, 2004.
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