On Oct. 20 the House approved H.R. 3763, a bill that would exempt certain businesses from the Federal Trade Commission’s (FTC’s) Red Flags Rules. Under the bill, health care, accounting, and legal practices with 20 or fewer employees would be excluded from the Rules definition of a "creditor" and the FTC also would be required to issue new regulations allowing any business to apply for an exemption.
To date the Senate has not introduced a companion bill.
The FTC’s enforcement deadline for the Rule is November 1, 2009.
A copy of the bill is available at: http://thomas.loc.gov/cgi-bin/query/D?c111:2:./temp/~c111UByCAO:: Information about the FTC’s Red Flags Rule is available at: http://ftc.gov/redflagsrule