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DMA Urges Senate Leadership to Keep Proposals for FTC Expansion out of 'Restoring American Financial Stability Act'
Washington, DC, April 22, 2010 — Direct Marketing Association (DMA) today was joined by 40 other trade associations and business coalitions in sending a letter to Senate Majority Leader, Harry Reid (D-NV), and Senate Minority Leader, Mitch McConnell (R-KY), urging them to keep proposals for expansion of the Federal Trade Commission (FTC) out of the Senate’s current debate over financial regulatory reform.
The letter expressed strong opposition to the inclusion of provisions that would significantly expand the FTC rulemaking and enforcement authority in the “Restoring American Financial Stability Act” (RAFSA). Granting the FTC broad new authority over virtually every sector of the American economy is not a necessary or relevant response to the causes of the recent recession. RAFSA should be focused on strengthening the stability of our economy, not regulating industries that had nothing to do with the financial crisis at a time when businesses are struggling to both survive and create new jobs.
“The financial troubles of the past year have not been laid at the FTC’s doorstep, and provisions to expand the Commission’s authority are out of place in financial reform legislation,” said Linda Woolley, DMA’s executive vice president, government affairs. “Our letter represents thousands of American businesses, all of whom urge the Senate to keep proposals for FTC expansion out of RAFSA.”
The associations believe these FTC-related issues deserve their own consideration and debate in the more appropriate context of an FTC reauthorization, as has been done in the past. DMA and the other associations strongly urge the Senate to focus its current debate on restructuring the financial regulatory system, and not rush to make changes to the FTC that would have a fundamental impact on a broad segment of the business community.
Signatories to the letter included:
American Advertising Federation
American Association of Advertising Agencies
American Bakers Association
American Business Media
American Financial Services Association
American Frozen Food Institute
Association of International Automobile Manufacturers, Inc.
Consumer Data Industry Association
Consumer Electronics Association
Consumer Healthcare Products Association
Council for Responsible Nutrition
Direct Marketing Association
Direct Selling Association
Electronic Retailing Association
Financial Services Institute, Inc.
Financial Services Roundtable
Food Marketing Institute
Interactive Advertising Bureau
International Franchise Association
Internet Commerce Coalition
Magazine Publishers of
Marketing Research Association
National Association of Mutual Insurance Companies
National Association of Professional Background Screeners
National Association of Realtors
National Association of Wholesaler-Distributors
National Automobile Dealers Association
National Business Coalition on E-Commerce and Privacy
National Council of Chain Restaurants
National Restaurant Association
National Retail Federation
Natural Products Association
Online Publishers Association
Retail Industry Leaders Association
Snack Food Association
Software & Information Industry Association
To view this letter and a copy of the January 20, 2010, letter to the Senate Committee on Commerce, Science & Transportation, please click here.
For more information please visit www.dmaaction.org.
About Direct Marketing Association (DMA)
The Direct Marketing Association (www.the-dma.org) is the leading global trade association of businesses and nonprofit organizations using and supporting multichannel direct marketing tools and techniques. DMA advocates standards for responsible marketing, promotes relevance as the key to reaching consumers with desirable offers, and provides cutting-edge research, education, and networking opportunities to improve results throughout the end-to-end direct marketing process. Founded in 1917, DMA today represents companies from dozens of vertical industries in the
In 2009, marketers – commercial and nonprofit – spent $149.3 billion on direct marketing, which accounted for 54.3% of all ad expenditures in the
The Power of Direct: Relevance. Responsibility. Results.
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