Federal Trade Commission Delays Enforcement of "Red Flags Rule" for Certain Financial Institutions and Creditors

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Federal Trade Commission Delays Enforcement of "Red Flags Rule" for Certain Financial Institutions and Creditors

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On October 22, 2008, the Federal Trade Commission announced a six-month delay in FTC enforcement of the "Red Flags Rule." The rule requires certain financial institutions and creditors to develop and implement Identity Theft Prevention Programs to prevent, detect, and mitigate identity theft in connection with certain covered accounts. For more, see our recent Email Alert.

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