FTC Clarifies the Red Flag Rule, Stays Enforcement Against Physicians

S. 3987, the Red Flag Program Clarification Act of 2010 amends the Fair Credit Reporting Act regarding the applicability of the identity theft (Red Flags) guidelines to creditors. It limits the type of “creditor” that must comply with the Red Flags Rule. While the legislation does not specifically exclude physicians, it more clearly defines the term “creditor”, so that physicians would generally not be classified as creditors for purposes of the Red Flags Rule. However, there may be some practices that would still qualify as creditors under the new definition.

Source: ASCRS.

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About Arthur De Gennaro

My friends call me Art. Welcome to my blog. In this space you’ll find information and comments on the ophthalmology world, the optical industry, the hearing industry and medical practice management. My intent is to provide information you can use to improve your business and your own performance. Please visit often and feel free to join the discussions by leaving comments.

You can learn more about me and my consulting company, Arthur De Gennaro & Associates, LLC by visiting my web site www.adegennaro.com

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December 2010

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