If you are a business or company that pulls a credit report and/or offers credit or payment plans to consumers you need to become aware of your Red Flags Compliant responsibilities.
What are some of the types of companies that must be Red Flags Compliant?
Retail Stores Carrying Credit
Banks & Credit Unions
Auto Dealers
Equities Brokerage
Telecommunications
Debt Collectors
Credit/Debit Card Issuers
Mortgage Lenders
Check Cashers
Utility Companies
Hospitals
Health Care Companies
Insurance
Foreign Bank Branches
Businesses that do not comply with 2008 FACT Act "Red Flag Regulations" may be subject to fines and civil law suits for breaches of confidential information.
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