The Federal Trade Commission extended the enforcement deadline again for regulations requiring financial institutions and other companies to implement means to detect and prevent identity theft, the agency said Friday. The six-month extension for the Identity Theft Red Flags Rule is the latest of many extensions since the rule's original Nov. 1, 2008 enforcement deadline. The extension was granted to give Congress more time to pass legislation exempting healthcare companies, law firms and accounting offices with 20 or fewer people, the Federal Trade Commission (FTC) said. The bill in question, HR 3763, was approved by the house in October 2009...
The Federal Trade Commission Wednesday again pushed back the enforcement deadline of a controversial rule requiring financial institutions and "creditors" to take steps to prevent identity theft-related data breaches.
The U.S. Federal Trade Commission has given financial institutions an additional six months to develop programs to prevent identity theft due to confusion in the industry over the scope of the agency's rules.
The request follows an April 23 government report on ID theft that recommended establishing national data protection standards for the private sector and reducing the use of Social Security numbers among government agencies.