The FTC has announced that the Red Flag Rule that was to go into effect today has been delayed until August 1, 2009.
Originally the ruling was to begin November 1, 2008, but due to the objections of many medical associations and other organizations; the FTC had agreed to delay until May 1st. Then earlier today, the FTC announced this new delay with the statement “to give creditors and financial institutions more time to develop and implement written identity theft prevention programs.” The FTC has further agreed to provide a template to assist entities with a low risk of identity theft comply with the law.
More on the rules can be found at http://www.ftc.gov/bcp/edu/pubs/business/alerts/alt050.shtm
http://www.ama-assn.org/ama/no-index/physician-resources/red-flags-rule.shtml
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