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FTC Issues Guidance to Clarify Scope and Requirements of Red Flags for Identity Theft Prevention Rule
The FTC has released a guidance document that clarifies the scope of its Red Flags for Identity Theft Prevention Rule (“the Red Flags Rule”) and provides a practical four step guide for covered entities to assess…
New FACTA Rules Take Effect on July 1, 2010
Businesses have until July 1, 2010 to comply with the new rules and guidelines under the Fair and Accurate Credit Transactions Act (“FACTA”), which amended the Fair Credit Reporting Act (“FCRA”), adopted by the Federal…
Federal Agencies Issue FAQs on FACTA Red Flag Compliance
Last week, the Federal Trade Commission, jointly with other federal agencies that regulate financial institutions, released "frequently asked questions" designed to provide additional assistance to companies required…
Welcome to the Consumer Financial Services Blog
Which among the following businesses are potentially subject to consumer financial services laws, rules, and regulations? A. a retail clothing chain B. a bank or mortgage company C. an internet retailer D. a fast food…