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FTC hears business mayday—grants Red Flags Rule reprieve PDF Print E-mail
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Compliance
Written by Joe Campana   
Friday, 01 May 2009 00:00
In the eleventh hour, the Federal Trade Commission granted a second reprieve to businesses required to comply with the Red Flags Rule today, May Day. The announcement came the day before the Red Flags Rule was to go into effect for more than 10 million businesses nationwide and a million throughout Illinois. The new enforcement date was delayed to August 1, 2009.
 Many financial institutions and creditors regulated by federal banking and credit union agencies have been required to comply since November 1, 2008. Those overseen by the FTC were pardoned until May 1, 2009 because the FTC learned that the majority of businesses were not aware of the new law during educational outreach programs they conducted throughout the nation. I attended the informative FTC Chicago workshop, “Protecting Personal Information: Best Practices for Business” held a year ago.
The remainder of this article can be found at the Examiner.com: Chicago Identity Theft Examiner.

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Last Updated on Friday, 01 May 2009 00:05