FTC Again Delays Red Flags Rule Enforcement Deadline: Expert Commentary Available

FTC Again Delays Red Flags Rule Enforcement Deadline: Expert Commentary
Available
Federal Trade Commission Extends Enforcement Deadline to June 1, 2010

SCOTTSDALE, Ariz., Nov. 2 /PRNewswire/ --

WHAT:
The Red Flags Rule, under the Fair and Accurate Credit Transactions Act
(FACTA), mandates that the U.S. Federal Trade Commission develop regulations
requiring financial institutions to address the risk of identity theft.

The enforcement of the Red Flags Rule has been delayed for fourth time,
putting consumers and business at an extended period of risk, especially as
the U.S. and global economy fights to emerge from a economic crisis and time
of financial market dislocation. The Rule was scheduled to take effect for all
applicable businesses by Nov. 1, 2008. Companies outside the financial sector
have received three extensions, most recently pushing the deadline from the
first day of August to Nov. 1, 2009.

The Red Flags Rule will require that banks and creditors implement written
identity theft prevention programs to help identify, detect, and respond to
patterns, practices, or specific activities -- known as "red flags" -- that
could indicate identity theft.

WHO:
Adam K. Levin, Chairman, Identity Theft 911
Matthew Cullina, Chief Executive Officer, Identity Theft 911
Eduard Goodman, Chief Privacy Officer, Identity Theft 911

WHEN:
Available for interviews immediately

MORE INFO:
More information is available at www.identitytheft911.org; and
www.ftc.gov/redflagsrule

FOR PRESS INTERVIEWS:
-- Andrew Worob, Ruder Finn, (212) 715-1536, woroba@ruderfinn.com

-- Christopher Bacey, Identity Theft 911, (732) 951-8221,
cbacey@identitytheft911.com

SOURCE Identity Theft 911

Andrew Worob, Ruder Finn, +1-212-715-1536, woroba@ruderfinn.com; or
Christopher Bacey, Identity Theft 911, +1-732-951-8221,
cbacey@identitytheft911.com