Today, we’re diving into a crucial topic that’s making waves in the lead generation industry: the Federal Communication Commission’s (FCC) decision to close the lead generator loophole. To provide some insight, I had a conversation with John Henson from Troutman Amin. Here’s a summary of what we discussed.
The Current Status
As of mid-June, we are six months away from the implementation date of the new FCC rule aimed at closing the lead generator loophole. Despite some industry rumblings suggesting potential delays or significant alterations, John Henson believes the rule will remain substantially similar to its current form when it goes live in January.
The Rulemaking Process
John highlighted that while there’s ongoing chatter about possible changes, the FCC has not made any public announcements indicating such intentions. The final rule, as it stands, appears to be the rule we should prepare for. The FCC has shown a clear intention to allow the industry ample time to adjust to the new regulations, minimizing the likelihood of abrupt changes as the implementation date approaches.
Political Considerations
With the presidential election just four and a half months away, some wonder if the election outcome could impact the rule’s implementation. John noted that the final rule date is set for seven days after Inauguration Day. Given the timing, it is unlikely to be a week-one priority for either administration. Therefore, companies should not delay their compliance preparations based on the election results.
Key Takeaways
- Timeline: The new rule is set to go live in January, and significant changes are unlikely.
- Preparation: The industry should continue preparing for the rule as currently written.
- Election Impact: The upcoming presidential election is not expected to affect the rule’s implementation timeline.
Final Thoughts
As John Henson pointed out, the lead generation industry must stay proactive. Waiting until November to make necessary adjustments could prove detrimental. The FCC’s commitment to providing sufficient lead time underscores the importance of starting preparations now.