Just a reminder that Identity Theft Programs required by the "Red Flag"
Guidelines must be implemented and staff trained by November 1. We were
recently informed by the Virginia Municipal League that the FTC includes
municipal water companies in the definition of creditor.  The Rule also
pertains to Municipal Credit Unions who are under the authority of the
National Credit Union Administration.

 

Refresher - The 2007 amendment to the Fair and Accurate Credit
Transactions Act (FACTA) (15 USC 1681m(e)) directed the Federal Trade
Commission (FTC) and 5 other federal agencies to establish Guidelines
for financial institutions and creditors (as defined) to develop and
implement a WRITTEN Identity Theft Program for new and existing
accounts.  The Guidelines were published 11/2007 as a Final Rule in the
Federal Register 72/217.  "Creditor" as defined in the Guidelines
includes lenders such as banks, finance companies, automobile dealers,
mortgage brokers, utility companies, and telecommunications companies.  

15 USC 1681m(e) can be viewed at
http://uscode.house.gov/uscode-cgi/fastweb.exe?getdoc+uscview+t13t16+187
6+0++%28%29%20%20AND%20%28%2815%29%20ADJ%20USC%29%3ACITE%20AND%20%28USC%
20w%2F10%20%281681m%29%29%3ACITE%20%20%20%20%20%20%20%20%20.  (Perhaps
someone can convert this to a tiny URL)

 

The Federal Register Final Rule can be viewed at
http://www.ftc.gov/os/fedreg/2007/november/071109redflags.pdf.  The
first page lists each of the Agencies and the corresponding Code of
Federal Regulations.  Much of the beginning of the FR is background.
The meat of the Rule(s) begins on page 63753.  There are several
versions of the Guidelines included, depending on the agency involved,
each similar to the other.

 

 Ginny Jones 
(Virginia A. Jones, CRM, FAI) 
Records Manager 
Information Technology Division 
Newport News Dept. of Public Utilities 
Newport News, VA 
[log in to unmask] 

 


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