FACTA Section 114

Red Flag Rules
UPDATES and RESOURCES
LATEST UPDATES:

October 22nd - FTC Extends Enforcement Deadline for Organizations subject to FTC Oversight

Read FTC Press Release

Text of the FTC Enforcement Policy

NXG Press Release and Interpretation of Extension

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October 16th - FDIC Publishes Audit Guidelines for Red Flag

CLICK HERE for copy of FDIC Audit Guidelines
Red Flag Legislation and Updates:

CLICK HERE for the Red Flag Leglislation from the Federal Register

FTC Definitions - Business Alert - June 2008

Provides a further definition of "Creditor" and a concise overview of requirements. 

OCTOBER NEWS    

October 22nd - The Federal Trade Commission issued a press release announcing that it will suspend enforcement of the new “Red Flags Rule” until May 1, 2009, to give creditors subject to FTC jurisdiction additional time in which to develop and implement written identity theft prevention programs. Today’s announcement and the release of an Enforcement Policy Statement DO NOT affect other federal agencies’ enforcement of the original November 1, 2008 deadline for institutions subject to their oversight to be in compliance.  Read More

October 21st - NXG announces Association sponsorship program for NXG Webinar Series to try to get the word to as many as possible before the deadline.  Interested Associations can call 615-823-1311.

October 20th - National Credit Reporting Association extends its sponsorship of NXG Webinar series past November 1st based on high demand

October 17th - FDIC issues 
Audit Guidelines for Red Flag.
October 16-17th -- NXG Strategies Presents "Bridge to Red Flag Compliance to over 100 municipalities in South Carolina, sponsored by Municipal Association of South Carolina.

October 1st - NXG announces the availability of the Red Flag Portal - low cost access to the highest level of identity authentication for financial institutions and creditors