Alert November 03, 2009

FTC Postpones Compliance Date of Identity Theft Red Flags Rule Until June 1, 2010

On October 30, 2009, the FTC postponed the compliance date for its Identity Theft Red Flags Rule (16 CFR 681) from November 1, 2009 until June 1, 2010, at the request of “members of Congress,” according to an FTC statement.  On October 30, 2009, the U.S. District Court for the District of Columbia ruled that the FTC may not apply the Identity Theft Red Flags Rule to attorneys.  The FTC indicated in its announcement that the postponement would not affect the timeline of that proceeding and any possible appeals, nor would it affect other federal agencies’ ongoing enforcement of corresponding identity theft program regulations.