Compliance:
FTC Postpones Red Flag Rule -- Yet Again
Published on Tue Oct 06, 2009
Get ready to play wait and see, but don't underestimate the benefit of compliance. Remember that movie Groundhog Day, where Bill Murray relives the same day over and over again? That's where we now are with the Red Flags Rule. The rule was supposed to take effect Nov. 1, but you now have seven more months to comply. On October 30, the Federal Trade Commission announced it is postponing the compliance deadline for the rule until June 1, 2010. Why: There's a court case going on about who must comply. "Basically, the FTC is extending the deadline because Congress has asked it to do so," explains attorney Robert Markette on the Gilliland & Markette Home Care Law blog. Action plan: You can sit back on your haunches and give the court case time to play out, Markette recommends. That way, you won't spend an undue amount of time putting together [...]
