FTC Announces New, Narrower Definition of Creditor Under Red Flags Rule.

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One of the challenges companies have faced under the Red Flags Rules, part of FACTA, is that the definition of creditor was quite broad, and included a number of business scenarios that most people did not consider to give rise to status as a creditor.  The FTC just released an interim final rule that changes the definition of creditor under the Red Flags Rule, and narrows it.

The whole history of the challenges to the Red Flag Rule are beyond the ...

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