FTC Enforcement of Identity Theft Red Flags Rule for Financial Institutions and Creditors Delayed Until May 1, 2009

October 23, 2008
The Federal Trade Commission announced Wednesday that it will delay enforcement of the new Red Flags Rule until May 1, 2009 to give financial institutions and creditors additional time to develop and implement written identity theft prevention programs required by the Rule. This update examines the types of organizations that must comply with the Rule as well as the requirements of the identity theft programs they will need to adopt.