[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3987 Enrolled Bill (ENR)]

        S.3987

                      One Hundred Eleventh Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

          Begun and held at the City of Washington on Tuesday,
             the fifth day of January, two thousand and ten


                                 An Act


 
To amend the Fair Credit Reporting Act with respect to the applicability 
               of identity theft guidelines to creditors.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
    This Act may be cited as the ``Red Flag Program Clarification Act 
of 2010''.
SEC. 2. SCOPE OF CERTAIN CREDITOR REQUIREMENTS.
    (a) Amendment to FCRA.--Section 615(e) of the Fair Credit Reporting 
Act (15 U.S.C. 1681m(e)) is amended by adding at the end the following:
        ``(4) Definitions.--As used in this subsection, the term 
    `creditor'--
            ``(A) means a creditor, as defined in section 702 of the 
        Equal Credit Opportunity Act (15 U.S.C. 1691a), that regularly 
        and in the ordinary course of business--
                ``(i) obtains or uses consumer reports, directly or 
            indirectly, in connection with a credit transaction;
                ``(ii) furnishes information to consumer reporting 
            agencies, as described in section 623, in connection with a 
            credit transaction; or
                ``(iii) advances funds to or on behalf of a person, 
            based on an obligation of the person to repay the funds or 
            repayable from specific property pledged by or on behalf of 
            the person;
            ``(B) does not include a creditor described in subparagraph 
        (A)(iii) that advances funds on behalf of a person for expenses 
        incidental to a service provided by the creditor to that 
        person; and
            ``(C) includes any other type of creditor, as defined in 
        that section 702, as the agency described in paragraph (1) 
        having authority over that creditor may determine appropriate 
        by rule promulgated by that agency, based on a determination 
        that such creditor offers or maintains accounts that are 
        subject to a reasonably foreseeable risk of identity theft.''.
    (b) Effective Date.--The amendment made by this section shall 
become effective on the date of enactment of this Act.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.