Consumer Info

Two Red Flag Rules Teleseminar Offerings for the Price of One

Register Online Now!

On Oct. 30, 2009, the U.S. District Court for the District of Columbia granted the American Bar Association’s (ABA) motion for partial summary judgment against the FTC on the grounds that the FTC’s Red Flags Rule exceeds the Commission’s statutory authority.  As a result of the litigation, on Oct. 30, the FTC announced that it will delay enforcement of the Red Flags Rule “until June 1, 2010, for financial institutions and creditors subject to enforcement by the FTC.”  A copy of the announcement is below.  

Register today for an instant audio download of the March 31st event on "Compliance with Red Flag & Address Discrepancy Rules" with Andrew Smith, partner at Morrison & Foerster and receive a complimentary audio file of the July 2008 event on "New FDIC Exam Procedures on Red Flag Rules" with Jeffrey M. Kopchik; Senior Policy Analyst, FDIC- Technology Supervision Branch. Jeff is a leading expert for interagency exam procedure efforts and has visited with many bankers around the country and will share with you on what examiners are looking for when assessing a bank's ability to protect customer data.

Both events will be delivered to you instantly upon purchase via email in the form of an audio mp3 download.

1) Discussion Topics on Compliance with Red Flag & Address Discrepancy Rules (75 min):

Among other issues, Andrew will address:

Red Flag Rules
The types of companies that are covered and that are not covered
The types of accounts that are covered and that are not covered
Application of the rule to commercial accounts
Application of the rule to service providers
How to determine if there is a "reasonably foreseeable risk" from identity theft 
How to develop and document a Red Flags Program 
How to identify, detect and respond to Red Flags
How to administer and update your Red Flags program going forward
The practical difficulties faced by companies in developing Red Flags Programs
The latest regulatory guidance issued by the agencies

Address Discrepancy Rule
What to do when you receive a notice of address discrepancy
How to "form a reasonable belief" that a credit report relates to a consumer
How and when to provide a corrected address to a credit reporting agency

2) Discussion Topics on "New FDIC Exam Procedures on Red Flag Rules" (60 min)
Jeff is a leading expert for interagency exam procedure efforts and has visited with many bankers around the country, compiling a list of most asked questions. In his discussion, Jeff will give you an update on:

Expected agency enforcement time line
Procedures for "Safety and Soundness Report" & "Compliance Report"
Correct coverage of business accounts
Scope of rule that your institution will fall int
Identity Theft Red Flags - Financial Institutions & Creditors
Address Discrepancy - Users of Credit Reports
Change of Address Requests - Issuers of Credit & Debit Cards
User verification & confirmation requirements for address discrepancy rule
Helpful and informative Q&A directly from your industry peer

Cost**: $85 How-To-Comply Subscribers CDIA Members  
             $125 CDIA Members 
             $155 How-To Comply Subscribers Non-Members  
             $195 Non-Members & Data Furnishers/Users

If you have any further questions about this offer or would wish to register via phone, please contact Anita Popwell at (202) 408 7408 or at   apopwell@cdiaonline.org