The Federal Trade Commission announced that the Red Flags rule has been delayed until June 1, 2010.

The Fair and Accurate Credit Transactions Act of 2003 (FACTA) directed financial regulatory agencies, including the FTC, to promulgate rules requiring "creditors" and "financial institutions" with covered accounts to implement programs to identify, detect, and respond to patterns, practices, or specific activities that could indicate identity theft. FACTA's definition of "creditor" applies to any entity that regularly extends or renews credit - or arranges for others to do so - and includes all entities that regularly permit deferred payments for goods or services. Accepting credit cards as a form of payment does not, by itself, make an entity a creditor. Under this law, physicians could be considered "creditors".

Visit this FTC website for more information:  http://www.ftc.gov/redflagsrule

Also read, “The “Red Flags” Rule: What Health Care Providers Need to Know About Complying with New Requirements for Fighting Identity Theft” by clicking on this link:  http://www.ftc.gov/bcp/edu/pubs/articles/art11.shtm