10/23/2008 FTC Delays Enforcement of “Red Flags” Rules: Employers Still Must Comply

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We learned yesterday afternoon that the FTC had announced that they were going to delay enforcement of the “Red Flags” Guidelines for Identity Theft Prevention until May 1, 2009 for all Creditors and Financial Institutions. It seems that compliance with these provisions wasn’t clear to all who were affected and they were given a six month extension to get up to speed.

Important for Employers!!!

We been in contact with the FTC and learned that this delay does not apply to employers who still need to be in compliance by the original November 1, 2008 deadline. Employers must still have a policy in place to handle “Red Flag” Address Discrepancy Notifications from National Consumer Reporting Agencies (mainly the credit bureaus).

For more information on this guidelines, please visit the following sites: Users of Consumer Reports Have New Responsibilities as of November 1
employeescreenIQ Offers Free Webinar on New FTC Guidelines
FTC Enforcement Policy: Identity Theft Red Flags Rule

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