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After ABA Wins ‘Red Flags’ Suit Over ID Theft Rules, Accountants Sue, Too

Posted Nov 12, 2009, 01:55 pm CST
By Martha Neil

After apparently taking note of an American Bar Association win last month in a federal case contending that the Federal Trade Commission exceeded its authority by applying the so-called Red Flags Rule to lawyers, a trade association for accountants has filed a similar suit.

Just like lawyers, accountants also send clients monthly bills. But that doesn't mean that they are "creditors" as defined by the FTC and thus required to take measures to safeguard customers from possible identity theft under the Fair and Accurate Credit Transactions Act, argues the American Institute of Certified Public Accountants in a federal lawsuit filed yesterday in the District of Columbia.

“We feel that we should be treated the same as the lawyers, and we… Continue reading...



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