Topic: Optical--Sort Of
At the request of members of Congress, the Federal Trade Commission (FTC) is delaying enforcement of the "Red Flags" Rule until December 31, 2010, for FTC regulated financial institutions/creditors, which includes companies that issue health insurance (even vision care insurance). The rule therefore could affect opticians. OAA is working to have opticians exempted from this rule as long as they employ fewer than 20 employees. This delay represents the second time the optical community has successfully postponed the enforcement of this rule.
The rule, stemming from the Fair and Accurate Credit Transactions Act, is aimed at developing regulations to address the risk of identity theft. The resulting rule requires all such entities that have "covered accounts" to develop and implement written identity theft prevention programs, also known as red flag programs.
Posted by ct3/opticalceu
at 9:13 PM EDT
Updated: Friday, 6 August 2010 4:42 AM EDT
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Updated: Friday, 6 August 2010 4:42 AM EDT
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