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The “Red Flags” Rules – A Burgeoning Standard of Care for Financial Institutions

On September 30, 2010 by Schnader

Identity theft is a pervasive and ongoing problem. Unmoored from the burglar’s traditional constraints of space and time, identity theft can happen to anyone, anywhere, and at any time.

Recently promulgated federal regulations (the “Red Flags” Rules) seek to help prevent, or at least mitigate,  identity theft.

This alert, written by Schnader’s Vincent LaMonaca and Jeremy Hekhuis, provides a brief overview of the Red Flags Rules, and concludes by noting that compliance with the Red Flags Rules makes good business sense.