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Search Results for: Identity Theft Red Flags Rule

FTC Issues Revised Business Guide on ‘Red Flags’ Identity Theft Rule

News release: “The Federal Trade Commission has issued revised guidance designed to help businesses comply with the requirements of the Red Flags Rule, which protects consumers by requiring businesses to watch for and respond to warning signs or “red flags” of identity theft. The guidance outlines which businesses – financial institutions and some creditors –… Continue Reading

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

Text of the Federal Register Notice [256 pages, PDF] – Identity Theft Red Flags and Address Discrepancies Under the Fair and Accurate Credit Transactions Act of 2003: 16 C.F.R. Part 681 (Federal Trade Commission Rule): Joint Final Rules and Guidelines of the Office of the Comptroller of the Currency, Treasury; the Board of Governors of… Continue Reading

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

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… Continue Reading

CRS – Identity Theft: Trends and Issues

Identity Theft: Trends and Issues, Kristin Finklea, Specialist in Domestic Security. January 16, 2014. “Policymakers continue to be concerned with securing the economic health of the United States—including combating those crimes that threaten to undermine the nation’s financial stability. Identity theft, for one, poses both security and economic risks. By some estimates, identity fraud cost Americans nearly $21 billion in… Continue Reading

SEC Proposes Rules To Help Prevent And Detect Identity Theft

News release: “The Securities and Exchange Commission today announced a rule proposal to help protect investors from identity theft by ensuring that broker-dealers, mutual funds, and other SEC-regulated entities create programs to detect and respond appropriately to red flags. The SEC issued the proposal jointly with the Commodity Futures Trading Commission (CFTC). Section 1088 of… Continue Reading

Federal Agencies Issue Frequently Asked Questions on Identity Theft Rules

News release: “Six federal agencies issued a set of frequently asked questions (FAQs) today to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address. The “Red Flags and Address Discrepancy Rules,” which implement sections of… Continue Reading

FTC Offers 'Red Flags' Web Site To Help Creditors and Financial Institutions Design ID Prevention Programs

“The Federal Trade Commission has launched a Web site to help entities covered by the Red Flags Rule design and implement identity theft prevention programs. The Rule requires “creditors” and “financial institutions” to develop written programs to identify the warning signs of ID theft, spot them when they occur, and take appropriate steps to respond… Continue Reading

Information Technology Risks and Controls and Fair Credit Reporting Act

OTS 08-051 – OTS Issues New Examination Procedures on Identity Theft Red Flags and Address Discrepancies: “This Regulatory Bulletin transmits revised Examination Handbook Section 341, Information Technology Risks and Controls, and revised Examination Handbook Section 1300, Fair Credit Reporting Act (FCRA). The revised Handbook Sections contain new guid-ance and examination procedures for the final rules… Continue Reading

‘Red Flag’ Regulations Require Financial Institutions and Creditors to Have Identity Theft Prevention Programs

Federal Trade Commission: “Financial institutions and creditors are now required to develop and implement written identity theft prevention programs under the new Red Flags Rules. The Red Flags Rules are part of the Fair and Accurate Credit Transactions (FACT) Act of 2003. Under these Rules, financial institutions and creditors with covered accounts must have identity… Continue Reading