Alert June 01, 2010

FTC Further Postpones Compliance Date of Identity Theft Red Flags Rule Until December 31, 2010

The FTC announced that it has further delayed the compliance date for its Identity Theft Red Flags Rule (16 CFR 681) from June 1, 2010 until December 31, 2010, at the request of “Members of Congress,” while Congress considers legislation that would affect the scope of entities covered by the Rule.  As with prior compliance date delays for the Red Flags Rule,  the FTC indicated that the postponement is limited to the Rule.  The postponement does not affect other federal agencies’ ongoing enforcement of corresponding identity theft program regulations.