Agencies Propose Rules on Identity Theft Red Flags and Notices of Address Discrepancy

by Sabrina I. Pacifici on July 19, 2006

FTC press release: “The federal financial institution regulatory agencies and the Federal Trade Commission are soliciting comments on a Notice of Proposed Rulemaking (NPRM) concerning identity theft “red flags” and address discrepancies. The NPRM, which has been reviewed and approved by each of the listed agencies, implements sections 114 and 315 of the Fair and Accurate Credit Transactions Act of 2003. The regulations that the agencies are jointly proposing would require each financial institution and creditor to develop and implement an identity theft prevention program that includes policies and procedures for detecting, preventing, and mitigating identity theft in connection with account openings and existing accounts.”

  • Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003; Proposed Rule, [Federal Register: July 18, 2006 (Volume 71, Number 137)][Page 40785-40826]
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