Statement of American Bar Association President Carolyn B. Lamm on House Passage of H.R. 3763, Regarding The FTC “Red Flags Rule”
WASHINGTON, D.C., Oct. 21, 2009 – Today’s vote was an important recognition that the Federal Trade Commission’s interpretation of the Red Flags Rule over-reaches and its application to lawyers is unnecessary. But more work remains. Today’s legislative solution is incomplete and would burden large segments of the public and the FTC with unwarranted bureaucratic procedures. We look forward to working with the Senate to fine tune this legislation and further remove confusion and over-regulation.
- 30 -