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FTC delays compliance with FACT Act "Red Flags Rule" until August 1, 2009 |
June 11, 2009
Previously published on May 2009
Following the FTC's recent broadening of their interpretation of the term "creditor" to include (essentially) EVERY business which sells goods or services on account for personal, family or household purposes OR other accounts for which there is a reasonably foreseeable risk of identity theft ("covered accounts"), the deadline for compliance with the "Red Flags Rule" of the Fair and Accurate Credit Transactions Act of 2003 (the "Regulations") was extended until August 1, 2009.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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