FTC Delays Red Flags Rule Enforcement a 4th Time

The Federal Trade Commission has postponed enforcement of the Red Flags Rule for a fourth time — until June 1, 2010.  In a statement released Friday, Oct. 30, the FTC said it delayed the action “at the request of members of Congress.”

The rule, adopted as part of the Fair and Accurate Credit Transactions Act of 2003, requires businesses with access to sensitive data to develop a written plan to flag possible identity theft, put the plan in place and review it periodically to make sure it’s effective.

More information on the Rule, its requirements and training assistance for dealers can be found on the Keith Whann channel on Auttr TV.