FACT Act: Identity Theft Red Flags and Address Discrepancies

The Identity Theft Red Flags and Address Discrepancy Rules require all users of credit reports to take certain actions whenever a credit report contains a notice of an address discrepancy. The rules also require all creditors, and those that regularly arrange for credit to be provided, to establish policies and procedures to protect against identity theft.

The final rules were published by all of the Federal banking agencies and the FTC on November 9, 2007, as part of a joint rulemaking.

To learn more about these requirements, see the Identity Theft Red Flags FAQs >

Additional information can also be found on the FTC's website: Fighting Fraud with the Red Flags Rule >

When did the rules go into effect?
Though the rules were supposed to go into effect on November 1, 2008, the FTC delayed enforcement of the rule through December 31, 2010. A change in the law on December 18, 2010, amended the definition of "creditor" to limit the circumstances under which creditors are covered.

Who can I call for more information?
The FTC Bureau of Consumer Protection, Division Privacy and Identity Protection, can be reached at 202-326-2252.

At NAR, contact:
Charles Dawson
Associate Policy Representative
ph: 202-383-7522
cdawson@realtors.org

Where can I find the rules?
16 CFR Part 681
FTC Rule in the Federal Register, 72 Fed. Reg.63718 (November 9, 2007)