|
|
Article: "Red Flags" Rule Postponed Until November 1, 2009; FTC Announces Three-Month Extension For Expanded Business Education Campaign.(Brief article)
- Article from:
- Mondaq Business Briefing
- Article date:
- August 5, 2009
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The Federal Trade Commission (FTC) today announced that it will again delay enforcement of the Red Flags Rule until November 1, 2009 in order to assist small businesses and other entities with compliance issues. The FTC also plans to offer additional guidance "to clarify whether businesses are covered by the Rule." Implementation for the Red Flags Rule had been scheduled for August 1, 2009.
The Red Flags Rule, developed to "detect, and respond to the warning signs, or 'red flags,' that could indicate identity theft," was mandated by the Fair and Accurate Credit Transactions Act of 2003. Enforcement of the Rule was previously postponed twice by the FTC in order ...