As we reported here, the Senate passed legislation to clarify the application of the "red flag" rules to "creditors."  The law, the Red Flag Program Clarification Act of 2010, made its way through the House and, on December 18, 2010, was signed into law by President Barack Obama.

The Act makes clear that the red flag rules apply

As reported by the American Bar Association and, lawyers, accountants, health care providers and others soon may get some clarity as to whether the "red flag" rules apply to them. The United States Senate voted unanimously to pass the Red Flag Program Clarification Act of 2010. Under the Act, according to statements from Sen.

The Federal Trade Commission announced it is further delaying its enforcement of the “Red Flags” Rule through December 31, 2010. This move comes at the request of several Members of Congress who want to further consider legislation that would clarify who is subject to the Rule.

The delay follows the lawsuit (pdf) filed by the American