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What are the new Federal Reserve Board regulations for combating identity theft?

April 26, 2017combating federal reserve identity theft IDs Institutions regulations solution

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What are the new Federal Reserve Board regulations for combating identity theft?

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ANSLEY: The new regulations, being instituted by organizations that audit financial institutions or hold them accountable to comply with certain regulations, are the Red Flag Ruling. The agencies, which include Office of the Comptroller of the Currency, Treasury; Federal Deposit Insurance Corporation; Office of Thrift Supervision, Treasury; National Credit Union Administration; and the Federal Trade Commission, agreed to install several rules, one of them being that every consumer account has to have ID theft protection associated with it.