FTC Red Flag Rules

The FTC did not do much to give Businesses a good explanation
of the Red Flag Rules for the last enforcement date of August 1,
so a postponement of FTC enforcement set a new deadline, which
is currently November 1, 2009.

Many businesses and business owners felt uninformed and were
confused about not just whether they actually had to comply
with this "Red Flag thing" but also "what the heck does the FTC
have to do with this and why do they care?"

Well, partly because it is a little know fact that
The primary oversight of the credit reporting agencies/Bureaus,
mortgage brokers and others as to their activities covered by
the Fair Credit Reporting Act (FCRA) is covered by the
Federal Trade Commission (FTC) just as the Lenders, Banks and
Credit Unions (Financial Institutions) are regulated by the FDIC.

All FDIC oversight of large Financial Institutions was required
to be completed in 2008. However, many smaller shops, such
as Hard Money Lenders, Mortgage Brokers, and Credit Unions
have failed to move to Compliance at this time.

The Federal Reserve has oversight on federally-chartered banks
but it is the FTC that Mainstream America will be dealing with
as the Federal Government moves to place more responsibility
for Consumer Identity Theft protections at points of contact.



IMPORTANT CRITERIA UNDER FTC RED FLAG RULES

• Do they Take a Credit Application or Pull a Credit Report?

• Then they have to be Red Flags Compliant

EVERY Mortgage Broker, Regardless of Size of the Office
Must be Red Flags Compliant

Landlords and Real Estate Management Companies
Must be Red Flags Compliant
(a Landlord or Property Management Company would not
necessarily have to be Compliant for current Tenants known
to them, but would be required to be Compliant for any new
vacancies involving new applications to rent and pulling any
Consumer Credit Reports

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What you Must Do Now

Go to This Website
To receive your Complimentary Red Flag Guide
Just enter your information and it will be emailed to you
(There is No Cost, No Obligation and they do not put you on any
type of list....No Marketing and they Never Sell Any Names)

The Business is mainly based on Referral Customers and
the Red Flags Compliance Program here not only gets you fully
documented and Compliant but also includes a Full 12 months
of Maintenance and Follow-up Access.

Contact Us: getcompliant@gmail.com