President Zack Statement Re: Senate Clarification of Red Flags Rule

ABA President Stephen N. Zack

Following aggressive advocacy on behalf of America’s lawyers, the end is in sight regarding how the Federal Trade Commission should apply the “Red Flags Rule.”  Last night’s Senate vote to clarify the rule so that lawyers are clearly not included was a critical step in ending a bureaucratic effort to solve a non-existent problem with paper-pushing regulations that would have increased legal costs.

We applaud the leaders of this effort, Senator John Thune and Senator Mark Begich, and welcome the House’s speedy action on this issue.

For more information on the ABA’s lobbying efforts on the Red Flags Rule, click here.