Friday
Dec142012
Friday, December 14, 2012 at 06:17PM FTC Issues Interim Rule Amending the Scope of its Identify Theft "Red Flags" Rule
The Federal Trade Commission (“FTC”) recently issued an interim final rule amending its “Red Flags Rule,” 16 C.F.R. Part 681. The amendment, which affects “creditors” under the FTC’s jurisdiction, limits the applicability of the Rule by making reference to a new definition of “creditor” in Section 1681m(e)(4) of the Fair Credit Reporting Act (“FCRA”). Section 1681m(e)(4) was part of the “Red Flag Program Clarification Act” enacted by Congress in December of 2010. The FTC’s interim rule directly references this new definition, discussed below...
