FTC Delays Enforcement of Red Flags Rule

In a recent Litigation & Counseling Alert article, we reported that the FTC's "Red Flags Rule" will go into effect on June 1, 2010. That rule requires that all organizations subject to the Fair and Accurate Credit Transactions Act of 2003 (FACTA) develop and implement a formal, written and revisable Identity Theft Prevention Program to detect, prevent and mitigate identity theft. On May 28, 2010, the FTC announced that it was delaying enforcement of the Red Flags Rule until December 31, 2010.

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