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FTC Extends Deadline for Red Flags Rule

The FTC announced in a press release on Friday May 28 that they would postpone enforcement of the Identity Theft Red Flags Rule.

“At the request of several Members of Congress, the Federal Trade Commission is further delaying enforcement of the “Red Flags” Rule through December 31, 2010, while Congress considers legislation that would affect the scope of entities covered by the Rule. Today’s announcement and the release of an Enforcement Policy Statement do not affect other federal agencies’ enforcement of the original November 1, 2008 deadline for institutions subject to their oversight to be in compliance.”

The full release is available here.