Red Flag Program Clarification Act Exempts Certain Creditors from Red Flag Rules
Mondaq Business Briefing › United States Law Articles in English (2011)
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Red Flag Program Clarification Act Exempts Certain Creditors from Red Flag Rules
On 18 December 2010, the Red Flag Program Clarification Act of 2010 (RFPCA) was signed into law by President Obama.1 The RFPCA aims to narrow the universe of "creditors" that must comply with the Fair Credit Reporting Act (FCRA) Identity Theft Red Flags Rules, which require the maintenance of a written Identity Theft Prevention Program.
The Federal Trade Commission (FTC) and federal banking agencies2 jointly issued Red Flags Rules in 2007,3 with each agency's rule applicable to certain...See the full content of this document
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