ABA Up In Arms Over FTC Red Flags Rule

Law360, New York (July 23, 2009, 7:04 PM EDT) -- The American Bar Association is threatening to sue the Federal Trade Commission if the agency does not exempt lawyers from the so-called Red Flags Rule, a new regulation to protect against identity theft that is scheduled to take effect Aug. 1.

As the deadline for compliance approaches, the ABA is exploring “all options” to convince the FTC to exclude lawyers from the new regulations, ABA President H. Thomas Wells Jr. confirmed Thursday.

“The litigation option is also on the table, and we are ready to go...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.