FTC: Red Flags Rule Extended Until 11/1; New Education Effort

In a July 29, 2009 press release, the FTC announced that was going to once again extend the deadline for compliance with the Red Flags Rule, as it has in the past. The extension was tied to a new business education initiative also announced in that release:

To assist small businesses and other entities, the Federal Trade Commission staff will redouble its efforts to educate them about compliance with the "Red Flags" Rule and ease compliance by providing additional resources and guidance to clarify whether businesses are covered by the Rule and what they must do to comply. To give creditors and financial institutions more time to review this guidance and develop and implement written Identity Theft Prevention Programs, the FTC will further delay enforcement of the Rule until November 1, 2009.

The rest of the release can be read here. For more information on the Red Flags Rule, you can check out the FTC's Red Flags Web site, or contact any of the attorneys in the Lustigman Firm's Internet law practice. We will continue to keep you apprised of developments in Red Flags Rule and other FTC compliance matters.

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