The Red Flag Program Clarification Act of 2010 more narrowly defined the term “creditor” A new law exempts certain businesses, including physician practices, from the Red Flags Rule. The American Medical Association drops a lawsuit seeking to exempt physicians. The new law makes the case moot, the AMA president says, “eliminating any further confusion about the rule’s application to physicians” The rule applies, for example, to banks and federally-chartered credit unions, which are examined for Red Flags compliance.”]
Source: https://www.inforisktoday.com/court-validates-red-flags-exemptions-a-3409