Law360, New York (July 29, 2009, 5:37 PM ET) -- The Federal Trade Commission announced Wednesday that it would postpone until Nov. 1 implementation of its controversial Red Flags Rule, a regulation designed to protect against identity theft that has raised the ire of attorneys groups.
Acknowledging concerns from several businesses groups, including lawyers and small businesses, over compliance requirements, the FTC said it would “redouble its efforts to educate” those businesses that would fall under the Red Flags Rule's umbrella. The rule had been slated to take effect Aug. 1.
The American Bar Association had...
FTC Delays Red Flags Rule For Another 90 Days
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