Enforcement Date for "Red Flags" Rule Extended Again
American Academy of Sleep Medicine
Friday, November 6, 2009
The Federal Trade Commission (FTC) has delayed the enforcement date of the "red flags" rule until June 1, 2010, for financial institutions and creditors.
Enforcement of this rule, which requires certain businesses to develop identity theft prevention and detection programs, was originally scheduled for Nov. 1, 2008, and was later extended to May 1, Aug. 1 and Nov. 1, 2009. Physician groups have argued to the FTC and Congress that physicians are not "creditors" and should not be subject to the rule.