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Tag Archives: Red Flag

It’s almost 2011. Do you know where your Red Flags Rule compliance program is?

Posted in Data Compliance & Security, Identity Theft

(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

Latest Postponements and Exemptions of FTC Enforcement of ‘Red Flags’ Rule

Posted in Legislation

Written 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 Legislation

It’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 Legislation

As 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

BREAKING NEWS: Lawyers Need Not Implement Red Flag Program

Posted in Legislation

Just 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 & Security

By 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 Legislation

BREAKING 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 Legislation

In 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