“Red Flags” Rule Delayed Until November

The Federal Trade Commission (FTC) recently decided to delay enforcement of the “Red Flags” Rule to November 1, 2009. This is the third delay of enforcement which, prior to the announcement, was due to take effect on August 1, 2009. Concerns regarding the rule’s applicability prompted the FTC to seek further delay. The Red Flags Rule was developed as an anti-fraud regulation and requires “creditors” with covered accounts to implement programs to identify, detect, and respond to the warning signs, or “red flags,” that could indicate identity theft. For more information, visit http://ftc.gov/redflagsrule.

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