Reg Flag Rule—New Enforcement Date of June 1, 2010
May 28, 2010The FTC has passed regulations requiring certain “Creditors” and “Financial Institutions,” to create Identity Theft Prevention Programs if they have certain covered accounts. These regulations require that such entities must have these programs in place by June 1, 2010. The regulations, known as “Red Flag” rules, are designed to help uncover, prevent, or mitigate identity theft in different types of financial transactions.
