FTC Extends the Deadline for Red Flags Rule (Again)
At the request of several Members of the Congress, the FTC has delayed enforcement of the Red Flags Rule until December 31, 2010. According to the FTC’s press release, during the delay period, Congress will be considering legislation that will alter the scope of entities covered by the Rule. However, the FTC stated that if Congress passes legislation limiting the scope of the Red Flags Rule with an effective date earlier than December 31, 2010, the FTC will begin enforcement as of that effective date.
The press release can be found here.Red Flags Rule