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Red Flags Exemptions Expected

PRIVACY LAW—U.S.

December 2, 2010

On today's Privacy Tracker call, Andrew Smith of Morrison Foerster discussed the senate's approval of a bill that would amend the Identity Theft Red Flags Rule to limit those who are subject to it. The amendment--S3987--would exempt professional service providers such as doctors, lawyers and retailers from the rule; only actual creditors would be subject to it. Smith said the legislation has been sent to the House of Representatives and it is expected to be brought up on the floor next week. Those close to the legislation "think this has a very good chance of being signed into law," Smith said. Privacy Tracker subscribers can hear Smith's full analysis in the recorded audio of the call, which will be available soon on the Privacy Tracker Web site.
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