Reg Flag enforcement delayed until 12/31/10
The FTC has decided to further delay the enforcement of the “Red Flags” rule (although this does NOT affect the original 11/1/2008 deadline for compliance). This is the second delay since the rule became effective 1/1/2008.
Institutions should have a policy and procedures in place NOW, as examiners will undoubtedly be checking policy revision and approval dates once enforcement begins.
Additional help is available here.