The Federal Trade Commission (FTC) today announced that it will delay enforcement of the Red Flags Rule until August 1, 2009 "to give creditors and financial institutions more time to develop and implement written identity theft prevention programs." Implementation for the Red Flags Rule had been scheduled for tomorrow, May 1, 2009. The FTC press release announcing the delay is available at this link.
For more information on the Red Flags Rule, please see these earlier Waller Lansden bulletins:
- FTC To Begin Enforcing "Red Flags Rules" May 1st (March 18, 2009)
- Federal Trade Commission Delays Enforcement of Red Flags Rules; New Identity Theft Program Could Impact Healthcare Providers (Oct. 27, 2008)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.