The Secure Times

An online forum of the ABA Section of Antitrust Law's Privacy and Information Security Committee

Congressional Activity on FTC Red Flags Rule

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Late Thursday, October 8 Rep. John Adler (D-N.J.) introduced H.R. 3763, a bill to provide for an exclusion from Red Flag Guidelines for certain businesses.

H.R. 3763 would require the FTC to promulgate regulations that would enable businesses to apply for, and receive, an exemption from the rule if the FTC determines that the business:

  • is individually acquainted with all of its customers;
  • only performs services in or around the residences of its customers; or
  • has not experienced incidents of identity theft and identity theft is rare for businesses of that type.

The bill also would exempt health care, legal or accounting practices with fewer than 20 employees.

A business would lose its exemption if the exclusions criteria ceases to be applicable.

The House Financial Services Committee is expected to mark-up the bill on October 14, although there has been some talk here in Washington that the legislation is on a fast track to be brought directly to the House floor for a vote.

A copy of the bill is available here: http://thomas.loc.gov/cgi-bin/query/z?c107:H.R.3763:

 

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Author: ABA Antitrust

Learn more about the ABA Section of Antitrust Law: http://ambar.org/antitrust

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