FTC Defers Red Flags Rule Enforcement to June 1, 2010

Posted by Jason Greis on November 9, 2009 under Articles | Be the First to Comment

On Oct. 30, 2009, the U.S. Federal Trade Commission (FTC) deferred enforcement of the Red Flags Rule once again, from Nov. 1, 2009 to June 1, 2010, “at the request of Members of Congress.” However, the FTC also acknowledged that earlier that day, the U.S. District Court for the District of Columbia had enjoined the FTC from applying the Red Flags Rule to attorneys. Importantly, the FTC’s deferral does not affect the separate timeline of that legal proceeding and any possible appeals. Nor does this deferral affect other federal agencies’ ongoing enforcement for financial institutions and creditors subject to their oversight. Read More...