RV Franchise Education Workshop
Overview of North Carolina franchise law as it relates to RV dealers.
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Regulatory News and Notices
May 1, 2009
FTC Delays Enforcement of Red Flags Rule to August 1, 2009
On April 30, 2009, the Federal Trade Commission announced that it is providing another extension of the enforcement date for the “Red Flags Rule” to August 1, 2009. Although the rule actually became effective on January 1, 2008, enforcement of the rule had been set to begin May 1. However, this additional extension to August 1, 2009, is being provided to allow creditors and financial institutions more time to develop and implement written identity theft prevention programs. In the FTC release announcing the extension, FTC Chairman Jon Leibowitz made the following statement, “Given the ongoing debate about whether Congress wrote this provision too broadly, delaying enforcement of the Red Flags Rule will allow industries and associations to share guidance with their members, provide low-risk entities an opportunity to use the template in developing their programs, and give Congress time to consider the issue further.” As with the earlier extension of the enforcement date in October 2008, this delayed enforcement date does not apply to the rule regarding address discrepancies applicable to users of consumer reports. Click here or below for a copy of the FTC’s notice of this extension of the enforcement date. Please contact John Policastro at 919-828-4421 with any questions or at .(JavaScript must be enabled to view this email address).
The above information is provided for information purposes only and should not be construed as legal advice or a legal opinion on specific facts or circumstances. Please consult with legal counsel concerning specific factual situations before acting on this information.
