Another Red Flags Extension
The Federal Trade Commission bumped the enforcement deadline of the Red Flags Rule from November 1, 2009 until June 1, 2010 at the request of Members of Congress.
The Rule requires creditors to establish written, identity-theft-prevention programs that “are designed to detect the warning signs – or 'red flags' – of identity theft in their day-to-day operations," according to the FTC.
The enforcement of this Rule has already been delayed several times, and businesses still continue to express confusion over who the Rule applies to and how to comply with it. The FTC does offer compliance guidance on its site. Read about that here.
For questions regarding this enforcement policy, contact Naomi Lefkovitz or
Pavneet Singh, Bureau of Consumer Protection, 202-326-2252.
Read the FTC's announcement here.
CollectionTechnology.net is a proud presenter of the 2010 Collection Technology Summit. Click here for more details.
The Rule requires creditors to establish written, identity-theft-prevention programs that “are designed to detect the warning signs – or 'red flags' – of identity theft in their day-to-day operations," according to the FTC.
The enforcement of this Rule has already been delayed several times, and businesses still continue to express confusion over who the Rule applies to and how to comply with it. The FTC does offer compliance guidance on its site. Read about that here.
For questions regarding this enforcement policy, contact Naomi Lefkovitz or
Pavneet Singh, Bureau of Consumer Protection, 202-326-2252.
Read the FTC's announcement here.
CollectionTechnology.net is a proud presenter of the 2010 Collection Technology Summit. Click here for more details.
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Comment by Matthew Carpenter on November 2, 2009 at 10:36am - Wow. I am speechless.
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