Sunday, January 27, 2008

Fair and Accurate Credit Transactions Act Rules

At the end of last year, federal banking regulatory agencies issued a number of rules relating to the Fair and Accurate Credit Transactions Act. Among the new rules are red flag rules, which require financial institutions to adopt and periodically update written identity theft protection programs, and rules concerning affiliate marketing, which require that consumers be given the chance to "opt out" before their personal information is given to an affiliate organization for marketing purposes.

Additional detail on the affiliate marketing and red flag rules, as well as other regulatory activity concerning identity theft and personal privacy can be found at this client advisory prepared by my colleague Jane Shea.

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