(UPDATED) Late Tuesday, the House of Representatives passed the Red Flag Program Clarification Act of 2010 on a voice vote, clearing the way for President Obama’s signature. The Clarification Act exempts doctors, lawyers, accountants and certain other professionals from compliance with the Red Flags Rule. As you may recall, we discussed lawsuits filed by the American… Continue Reading
Tag Archives: Red Flag
Latest Postponements and Exemptions of FTC Enforcement of ‘Red Flags’ Rule
Posted in LegislationWritten by Kenneth Gantz At the urging of congressional lawmakers, the Federal Trade Commission has for the fifth time delayed enforcement of the “Red Flags” Rule – this time through December 31, 2010. In the interim, Congress plans to consider legislation that would alter the scope of entities covered under the Rule. Under the Fair… Continue Reading
Red Flags Rule Compliance Date Approaching – American Medical Association Sues
Posted in LegislationIt’s been a while since we have visited the Federal Trade Commission’s Red Flags Rule here in this blog. The oft-postponed deadline is now fast approaching on June 1. Except, that is, for lawyers and now, doctors. On Friday, the American Medical Association filed a lawsuit against the FTC for defining physicians as “creditors” and… Continue Reading
Court issues written opinion explaining decision regarding applicability of Red Flags Rule to attorneys
Posted in LegislationAs we first blogged here, hours before the last Red Flags enforcement deadline, a federal court judge in the D.C. Circuit ruled from the bench that attorneys would not be subject to the Red Flags Rule. The court released Judge Walton’s written opinion was released on December 1, 2009, which provides clarification of his comments… Continue Reading
Happy Halloween – No Red Flags Enforcement Until June 1, 2010………
Posted in LegislationYet again, at the last minute, the Federal Trade Commission has announced that it is delaying enforcement of the Red Flags Rule. This time, the postponement is until June 1, 2010 and comes “[a]t the request of Congress.” This is the FOURTH time that the FTC has delayed “enforcement” of the controversial rules intended to… Continue Reading
BREAKING NEWS: Lawyers Need Not Implement Red Flag Program
Posted in LegislationJust before noon today, Judge Walton granted summary judgment from the bench in favor of the American Bar Association in the ABA lawsuit over application of Red Flag Rules to legal profession. We’ll post the decision as soon as it is available.
Changes to the “Red Flag” Rules may be coming — and so is the November 1 compliance deadline
Posted in Data Compliance & SecurityBy an overwhelming vote of 400-0, the U.S. House yesterday approved legislation that will exempt certain businesses from the Federal Trade Commission’s Red Flag Rules. As we have reported, the Red Flag Rules require a broadly-defined class of “creditors” to implement identity theft prevention programs by November 1st. Under H.R. 3763, health care, accounting, and… Continue Reading
BREAKING NEWS — FTC Delays Enforcement of “Red Flag” Rules —Again
Posted in LegislationBREAKING NEWS: The Federal Trade Commission has again extended the enforcement deadline for the Red Flags Rule, according to an agency press release. Creditors and financial institutions now have until November 1, 2009 to come into compliance with the rule, which was mandated by the Fair and Accurate Credit Transactions Act of 2003. Meanwhile, the… Continue Reading
FTC Issues Consent Order for GLBA Violations
Posted in LegislationIn the run-up to the enforcement deadline for the Identity Theft Red Flag Rule (August 1, 2009 – more on that in another post), enforcement of the Gramm-Leach-Bliley Privacy Rule and Safeguards Rule has not been forgotten by the Federal Trade Commission. This week, the FTC issued a consent order against mortgage lender James B…. Continue Reading
