FTC Extends Enforcement Deadline for Identity Theft Red Flags Rule
June 3, 2010, 7:58 PM
May 28, 1010
At the request of several Members of Congress, the Federal Trade Commission is further delaying enforcement of the “Red Flags” Rule through December 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the Rule. Today’s announcement and the release of an Enforcement Policy Statement do not affect other federal agencies’ enforcement of the original November 1, 2008 deadline for institutions subject to their oversight to be in compliance.
“Congress needs to fix the unintended consequences of the legislation establishing the Red Flags Rule – and to fix this problem quickly. We appreciate the efforts of Congressmen Barney Frank and John Adler for getting a clarifying measure passed in the House, and hope action in the Senate will be swift,” FTC Chairman Jon Leibowitz said. “As an agency we’re charged with enforcing the law, and endless extensions delay enforcement.”
The American Medical Association offers compliance guidance on its website. They state, "Update: The Federal Trade Commission (FTC) has delayed the compliance deadline of the Red Flags Rule until December 31, 2010. The AMA will utilize this time to convince the FTC and Congress to republish the rule so that there is sufficient opportunity to formally comment and state the AMA's objections to physician inclusion in the program.Click here to read more.
See also page D-18 of your 2010 ChiroCode DeskBook for an overview of the Red Flags Rule and how it could affect Chiropractic offices.
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