The Federal Trade Commission announced that “creditors” will not have to worry about fines associated with non compliance with Red Flag Rules until May 1st 2009. A creditor is defined as any entity that extends, renews, or continues credit and any entity that regularly arranges for the extension, renewal, or continuation of credit. For example, mortgage brokers, […]
Although Red Flag Rules were created to protect against identity theft, are some types of businesses more affected then others? In previous blogs I wrote about how merchants are not getting a fair shake when it comes to these rules, and many law suits have been filed against merchants. Different industries face government fines because they […]
FACTA (Fair and Accurate Credit Transactions Act of 2003) allows consumers to be able to obtain a free credit report once every twelve months from each credit reporting agency. More importantly, the act was created to help reduce identity theft. With the state of our current economy, credit card and identity theft is on the […]
