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senate Bill S. 3987

Red Flag Program Clarification Act of 2010

bill Progress

  • EnactedDecember 18th, 2010
    The President signed this bill into law
  • The house Passed December 7th, 2010
    Passed by Voice Vote
      house Committees
      Committee on Financial Services
  • The senate Passed November 30th, 2010
    Passed by Voice Vote
    IntroducedNovember 30th, 2010

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Bill Details

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Red Flag Program Clarification Act of 2010

Official Title

A bill to amend the Fair Credit Reporting Act with respect to the applicability of identity theft guidelines to creditors.


(This measure has not been amended since it was introduced. The summary of that version is repeated here.) Red Flag Program Clarification Act of 2010 - Amends the Fair Credit Reporting Act, with respect to federal agency (red flag) guidelines regarding identity theft and the users of consumer reports, to define creditor to mean one that regularly and in the ordinary course of business: (1) obtains or uses consumer reports, directly or indirectly, in connection with a credit transaction; (2) furnishes information to certain consumer reporting agencies in connection with a credit transaction; or (3) advances funds to or on behalf of a person, based on the person's obligation to repay the funds or on repayment from specific property pledged by or on the person's behalf. Includes in the definition any other type of creditor as the federal agency (banking agency, National Credit Union Administration, or the Federal Trade Commission [FTC]) having authority over that creditor may determine appropriate, if the creditor offers or maintains accounts subject to a reasonably foreseeable risk of identity theft. Excludes from the definition of creditor, however, any creditor that advances funds on behalf of a person for expenses incidental to a service the creditor provides to that person.

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