• "FTC Red Flag Rules: Compliance Date November 2008"
  • September 24, 2008 | Author: J. A. (Tony) Patterson
  • Law Firm: Fulbright & Jaworski L.L.P. - Dallas Office
  • The Federal Trade Commission (FTC) and other federal agencies issued a set of rules published in the Federal Register on November 9, 2007 (72 Fed. Req. 63718) that require financial institutions and creditors holding consumer or other "covered accounts" to develop and implement an identity theft prevention program that complies with the regulations by November 1, 2008. These rules, commonly referred to as the "Red Flag Rules," likely affect hospitals, individual physicians, physician groups, and other health care organizations that qualify as "creditors" based on its billing and collection practices.