Red Flag Program Clarification Act of 2010

Bill: 111-s-3987
Sponsor: Sen. Thune, John [R-SD]
Introduced: 2010-11-30 in the Senate
Policy area: Finance and Financial Sector
Subjects: Computer security and identity theft
Consumer credit
Fraud offenses and financial crimes

Summary:
action_date: 2010-11-30
text: 
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.

action_date: 2010-11-30
text: 

(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.

action_date: 2010-12-07
text: 

(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.
 

 

action_date: 2010-12-18
text: 
 
(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.
 

 


Legislative actions:
action_date: 2010-12-18
text: Became Public Law No: 111-319.
action_date: 2010-12-18
text: Became Public Law No: 111-319.
action_date: 2010-12-18
text: Signed by President.
action_date: 2010-12-18
text: Signed by President.
action_date: 2010-12-09
text: Presented to President.
action_date: 2010-12-09
text: Presented to President.
action_date: 2010-12-07
text: Cleared for White House.
action_date: 2010-12-07
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2010-12-07
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H8059)
action_date: 2010-12-07
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H8059)
action_date: 2010-12-07
text: DEBATE - The House proceeded with forty minutes of debate on S. 3987.
action_date: 2010-12-07
text: Considered under suspension of the rules. (consideration: CR H8059-8060)
action_date: 2010-12-07
text: Mr. Adler (NJ) moved to suspend the rules and pass the bill.
action_date: 2010-12-01
text: Referred to the House Committee on Financial Services.
action_date: 2010-12-01
text: Message on Senate action sent to the House.
action_date: 2010-12-01
text: Received in the House.
action_date: 2010-11-30
text: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S8288-8289; text as passed Senate: CR S8289)
action_date: 2010-11-30
text: Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S8288-8289; text as passed Senate: CR S8289)
action_date: 2010-11-30
text: Introduced in Senate

Enacted as: number: 111-319