The FTC announced that it will delay enforcement of its “Red Flags” rule to give creditors and financial institutions additional time to develop and implement written Identity Theft Prevention Programs. The new enforcement date is November 1, 2009. This is the second delay of the rule. The FTC had already delayed its implementation of the rule until August 1, 2009. This announcement does not affect the FTC’s address discrepancy rule, which applies to all users of consumer reports, and its change-of-address rule, which applies to card issuers, which became effective November 1, 2008. Click here for a copy of the press release announcing the delay.
Alert August 11, 2009