[United States Statutes at Large, Volume 124, 111th Congress, 2nd Session]
[From the U.S. Government Publishing Office, www.gpo.gov]


Public Law 111-319
111th Congress

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.''.

[[Page 3458]]

(b) Effective <> Date.--The amendment made
by this section shall become effective on the date of enactment of this
Act.

Approved December 18, 2010.

LEGISLATIVE HISTORY--S. 3987:
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CONGRESSIONAL RECORD, Vol. 156 (2010):
Nov. 30, considered and passed Senate.
Dec. 7, considered and passed House.