May 27, 2009
Lawyers who defer payments for services must comply with FTC Red Flags Rule by August 1, 2009.
The Federal Trade Commission has extended until August 1, 2009, enforcement of its “Red Flags Rule” that requires creditors who defer payments for goods and services — including lawyers — to develop and implement written programs to identify, detect, and respond to warning signs of identity theft.
The FTC has posted a template that explains the procedures needed to be taken under the Rule; it can be found at www.ftc.gov/redflagsrule.
ABA Letter to FTC (PDF file)
originally posted May 27, 2009Updated: Jul 14, 2009