Cyber Security Girl Strikes Again!: Congress Considers Change to ‘Red Flags Rule

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Cyber Security Girl Strikes Again!: Congress Considers Change to ‘Red Flags Rule: ” CYBER SECURITY GIRL STRIKES AGAIN! IDENTITY THEFT IS THE #1 FASTEST GROWING WHITE COLLAR CRIME. THE FTC HAS MANDATED A LAW CALLED THE RED FLAGS RULE FOR BUSINESSES TO KEEP CUSTOMER AND EMPLOYEE INFO PROTECTED FROM ID THEFT. THE ENFORCEMENT DATE IS JANUARY 1, 2011. THE FINES FOR NON COMPLIANCE ARE CRIPPLING…

FRIDAY, DECEMBER 3, 2010

Congress Considers Change to ‘Red Flags Rule The American Bar Association has been battling for more than a year to exempt lawyers from new regulations designed to fight identity theft. Now, Congress has decided to step in.

With no fanfare and no recorded vote late Tuesday, the Senate approved legislation that could accomplish what the ABA was hoping to achieve. The bill would narrow the definition of ‘creditor’ under the Fair and Accurate Credit Transition Act of 2003, likely ensuring that lawyers would not meet the new definition.

An ABA spokeswoman said the group is optimistic about House passage, possibly this week.

The regulations over identity”

 

(Via .)

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