New Red Flag Compliance Deadline - May 1, 2009!

Just this afternoon, the FTC announced that it would delay the deadline to comply with the new Red Flag Rules from November 1, 2008 to May 1, 2009.  The delay is to due to the confusion and uncertainty created in certain industries over whether the rules apply to them.  "Many entities also noted that because they generally are not required to comply with FTC rules in other contexts, they had not followed or even been aware of the rulemaking, and therefore learned of the requirements of the rule too late to be able to come into compliance by November 1, 2008."  See FTC Press Release (and Enforcement Policy Statement referenced therein) at: www.ftc.gov/opa/2008/10/redflags.shtm