More Time Allowed for Identity Theft Compliance
May 8, 2009
The Federal Trade Commission (FTC) has announced an extension of the compliance deadline until August 1 for creditors and financial institutions to adopt written identity theft prevention policies under its new Red Flags regulation.
The agency also promised to provide a template to help low-risk entities, such as those which know their customers personally, comply. When available, the template will be posted on the FTC resource page. A useful 17-page guide to compliance is also available on that Web site.
NACUBO’s Red Flags Rule resource page provides links to the regulation, sample college policies, and more.
Anne C. Gross
Vice President, Regulatory Affairs
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