• Red Flag Program Clarification Act
  • December 17, 2010 | Authors: Scott A. Backus; Jason S. McCarter
  • Law Firm: - Office
  • On November 30, 2010, the U.S. Senate passed the Red Flag Program Clarification Act of 2010 in response to the FTC’s repeated delays in enforcement of the Red Flags Rule and various requests to Congress that it address the over-inclusive nature of the Rule. After the House of Representatives passed the bill on December 7, the legislation was presented to President Obama on December 9. The President is expected to sign the Act, which amends the definition of “creditors” in the Red Flags Rule and likely reduces the number of businesses covered by the Rule.