Consequences of Failure to Comply with Red Flag Rules
Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: What are the consequences of failure to comply and/or develop a written policy?
Answer: Examiner criticism, possible reputation damage, potential liability if someone is victimized by identity theft and could show that it would have been
caught earlier had you had a proper Identity Theft Prevention Program.
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