Does the MARS Rule have Record-Keeping or Monitoring Requirements?
The Rule requires you to keep certain records for at least two years from the date the document is created, generated, or received:
Advertising and promotional materials. You must keep a copy of each substantially different advertisement, brochure, telemarketing script, website, training document, or other material related to the advertising or marketing of your service. You don't have to keep separate copies of documents that have minor, immaterial differences.
Sales records. You have to keep records showing the name, last known address, and telephone number of each of your customers; the services they bought from you; and how much they paid you. You need to maintain records relating only to customers who agree to use your services. You don't have to keep records relating to people who asked about your services, but didn't sign up.
Communications with customers. You must keep copies of all written communications between you and customers that occurred before they agreed to use your service.
Agreements with customers. You must keep copies of all contracts or other agreements between you and your customer.
You also must take reasonable steps to ensure that your employees and independent contractors comply with the Rule. At a minimum, that would include:
• performing random, blind monitoring and recording of sales and customer service calls involving your employees or people who do telemarketing on your behalf;
• establishing a procedure for receiving and responding to consumer complaints and investigating each one promptly and thoroughly;
• determining the number and nature of consumer complaints related to transactions involving individual employees or contractors and
• taking corrective action – which may include training, discipline, or termination – if they're not complying with the Rule;
• keeping records sufficient to establish that you're meeting your monitoring responsibilities under the Rule.
For more information, see here: https://www.ftc.gov/business-guidance/resources/mortgage-assistance-relief-services-rule-compliance-guide-business
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