Lawyers – on the hook for identity theft rules?

The FTC is arguing that attorneys should not be exempted as “creditors” under the identity theft act known as “FACTA.”  The American Bar Association is arguing that attorneys shouldn’t be lumped into the category of  “creditors” because that’s too broadly defined and lawyers are generally exempted from federal regulatory agencies without explicit authority.

Not so says the FTC

The agency argues that attorneys who don’t require immediate payment for their services, are creditors under FACTA and will be required to adhere to “red flag” rules when it comes to identity theft.

FTC’s brief is here

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: