One business day before the so-called Red Flags Rule was to go into effect, out came the yellow flag -- again.
On May 28, the Federal Trade Commission postponed the start of enforcement of the rule until Dec. 31. The rule requires businesses involved in credit transactions, such as car dealerships, to adopt written plans to detect and respond to instances of possible identity theft.
After several delays, businesses were supposed to start complying with the rule June 1.
The National Automobile Dealers Association says most dealers already comply with the rule, which was part of the federal Fair and Accurate Credit Transactions Act of 2003.
