Red Flags Rule enforcement delayed until August 1
HIPAA Weekly Advisor, May 4, 2009
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The Federal Trade Commission (FTC) has extended the Red Flags Rule enforcement deadline to August 1 so that creditors and financial institutions have more time to develop and implement written identity theft prevention policies, according to an April 30 FTC press release.
“Given the ongoing debate about whether Congress wrote this provision too broadly, delaying enforcement of the Red Flags Rule will allow industries and associations to share guidance with their members, provide low-risk entities an opportunity to use the template in developing their programs, and give Congress time to consider the issue further,” FTC Chairman Jon Leibowitz said in the press release.
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