House Passes Small Firm Exclusion To Red Flags Rule

Law360, New York (October 21, 2009, 12:57 PM EDT) -- The U.S. House of Representatives has passed a bill that would exclude small health care, legal and accounting practices from a Federal Trade Commission rule requiring creditors to develop programs to detect and prevent identity theft related to certain kinds of accounts.

Legislators approved the bill by a 400-0 margin Tuesday, paving the way for Congress to overturn a controversial revision of the so-called Red Flags Rule that would have forced law firms and some other small businesses to comply with the Fair and Accurate Credit...
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