WVML Press
New federal regulations, known as “red flag rules”, require financial
institutions and creditors to develop and implement written
identity-theft-prevention programs. Because of the definition of
“creditor”, many municipalities may be affected by these regulations.
A municipality that provides a service to customers and collects payment later must comply with the red flag rules. The
red flag rules are part of the federal Fair and Accurate Credit
Transactions (FACT) Act of 2003. Under these regulations, financial
institutions and creditors with covered accounts must have
identity-theft-prevention programs in place by November 1, 2008 to
identify, detect and respond to patterns, practices, or specific
activities that could indicate identity theft.
Housing Stimulus Legislation Signed Today Has Added Bonus: New FHLBank Powers to Boost Low-cost Financing of Public Projects- The housing stimulus legislation signed into law today by President Bush contains a little-mentioned but significant provision to assist public projects across the Mountain State.
Read more: Housing Stimulus Legislation Signed Today Has Added Bonus
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