New consumer financial regulation signed by President Obama today
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release December 18, 2010
STATEMENT BY THE PRESS SECRETARY
On Saturday, December 18, 2010, the President signed into law:
S. 3987, the “Red Flag Program Clarification Act of 2010,” which narrows the definition of a creditor for purposes of implementing the so-called “red flags rule,” i.e., Federal guidelines for use by financial institutions and creditors in establishing policies and procedures to mitigate identity theft risks.