Our previous article, written by Anna DeSimone, announced that the Federal Trade Commission (FTC)  had delayed enforcement of the Red Flags Rule until August 1, 2009.  However, at the request of Members of Congress, the FTC has delayed enforcement of the Rule for a third time until June 1, 2010, to provide further compliance guidance to covered financial institutions and creditors.  The Red Flags Rule's original effective date of November 1, 2008, continues to apply to covered entities regulated by the federal banking agencies or the National Credit Union Administration.  For the FTC's announcement regarding the delay, please click here.