Industry News
November 17, 2009
ALTA Seeks Clarification on Federal Trade Commission Red Flags Rule
Following the promulgation of the Federal Trade Commission’s (FTC) Red Flags Rule, the American Land Title Association has submitted a letter to the Federal Trade Commission’s (FTC) General Counsel, Willard K. Tom, seeking clarification regarding the title industry’s inclusion – or lack thereof – under the Rule.
The Rule, which is slated to go into effect on June 1, 2010, requires those entities that have “covered accounts” to create and implement identity theft prevention programs aimed at identifying “red flags” that could indicate that identity theft is occurring.
For more information on the Red Flags Rule, please visit the FTC’s Red Flags Rule website.
