It what has come to be a now common event, the FTC has decided to extend again the enforcement of its Red Flags Regulations. Succumbing to Congressional pressure, the FTC has decided to extend the prior deadline – which was last slated for June 1, 2010 – until December 31, 2010. Most privacy professionals have probably lost track by now as to how many times the enforcement of these regulations has been pushed back. The original date was November 1, 2008! According to the FTC press release, “If Congress passes legislation limiting the scope of the Red Flags Rule with an effective date earlier than December 31, 2010, the Commission will begin enforcement as of that effective date.”
Given that Congress will now “clarify” who is subject to these regulations, it is highly likely that those companies who have not yet complied will wait until such clarification comes down the pike. Who can blame them? Certainly not the FTC.