FTC Delays “Red Flags” Rule for Third Time

The Federal Trade Commission announced a third delay for compliance, from August 1, 2009, to November 1, 2009, for compliance with the identity theft prevention red flags rule. The delay is for another three months. Entities affected are creditors and financial institutions. Healthcare providers that extend delayed payment plans to patients are deemed “creditors” under the red flags rule.

FTC Delays Identity Theft Prevention Red Flags Rule for Second Time

The Federal Trade Commission announced a second delay on Friday, May 1, 2009, for compliance with the identity theft prevention red flags rule. The delay is for three months, with compliance now scheduled for August 1, 2009. Entities affected are creditors and financial institutions. Healthcare providers that extend delayed payment plans to patients are deemed “creditors” under the red flags rule.

Red Flags Rules Compliance Countdown: Today

Today is the May 1, 2009 Red Flags Rule compliance deadline.

Red Flags Rules Compliance Countdown: 1 day

One day left until the May 1, 2009 Red Flags Rule compliance deadline.

Red Flags Rules Compliance Countdown: 2 days

Two days left until the May 1, 2009 Red Flags Rule compliance deadline.

Red Flags Rules Compliance Countdown: 3 days

Three days left until the May 1, 2009 Red Flags Rule compliance deadline.

FTC’s “Red Flags” Rule to Prevent Identity Theft Requires Compliance by Healthcare Providers on Friday, May 1, 2009

The Federal Trade Commission’s (FTC’s) “red flags” rules for financial institutions and creditors to fight identity theft require compliance by most healthcare providers on Friday, May 1, 2009. HIPAA.com recommends that healthcare providers examine three documents, which we have available at HIPAA.com, to determine their responsibilities with respect to compliance with the red flag rules

Identity Theft Red Flags and Address Discrepancies

The OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) are jointly issuing final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require each financial institution or creditor to develop and implement a written Identity Theft Prevention Program (Program) to detect, prevent, and mitigate identity theft in connection with the opening of certain accounts or certain existing accounts.