Attorney General's News Release

June 10, 2010

Attorney General Koster signs agreement with Bank of America over allegations of No-Call violations --telemarketers to pay state $195,000--

Jefferson City, Mo. - Attorney General Chris Koster said today that Bank of America has agreed to pay the state of Missouri $195,000 to settle allegations that it violated Missouri's telemarketing and telephone solicitation laws.

Koster reached an Assurance of Voluntary Compliance (AVC) with Bank of America Corporation as the result of complaints filed by Missouri consumers on the No-Call List who received unwanted telephone calls from Bank of America and third-party affiliates. The AVC was filed in St. Louis City Circuit Court.

"No one is too big to be beyond the law's reach, not even Bank of America," Koster said. "This result sends the message that the law will be enforced fairly, no matter who's on the other side."

Koster said in addition to paying the state $195,000, Bank of America must maintain a comprehensive telemarketing do-not-call program designed to ensure compliance with all applicable Missouri and federal telemarketing and no-call laws. The program will also include:

• designating an employee or employees to coordinate and be accountable for the telemarketing program, and training employees to ensure third-party representatives are aware of the telemarketing and no-call requirements of applicable Missouri and federal law;
• maintaining reasonable safeguards to control risks associated with telemarketing, and maintaining procedures that ensure telemarketing and no-call issues get escalated and reported to an appropriate supervisor in a timely fashion in accordance with the requirements of applicable Missouri and federal law;
• maintaining a program to reasonably monitor employees and telemarketing subcontractors or vendors through appropriate contractual arrangements to comply with applicable Missouri and federal telemarketing and no-call requirements as they currently exist or may be amended in the future; and
• maintaining policies and contractual requirements that subject employees and covered third-party vendors who violate Bank of America's telemarketing and no-call policies and procedures to disciplinary action up to and including termination of employment or contract.

"This case is another example of how the Attorney General's office continues to aggressively enforce our No-Call laws," Koster said. "We investigate all complaints received from Missouri consumers, and when appropriate, we take action against the telemarketer in question."

Koster reminds Missourians they can sign up for Do-Not-Call and can file a complaint about receiving unwanted solicitation calls on his website at www.ago.mo.gov or by calling 1-866-buzzoff (1-866-289-9633).