Red Flag Rule Postponed Again

The Federal Trade Commission (FTC) has delayed the enforcement of the Red Flag Rule once again through December 31, 2010. The Red Flag Rule requires “creditors” to develop and implement a written identity theft prevention and detection program.

This delay was at the request of the Members of Congress. Activity exists in Congress to revise the scope of entities required to comply.

The FTC notification can be found at: http://www.ftc.gov/opa/2010/05/redflags.shtm.