A Separate and Distinct Policy Statement for ID Theft Red Flags
Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: Are we required to have a separate and distinct policy statement for ID Theft Red Flags, or can it be rolled into our overall FACTA Policy?
Answer: The law does not require a policy statement, but the regulatory agencies expect to see one. The policy can exclusively cover the Red Flag provisions or it can be a broader FACT Act policy statement that specifically refers to the Red Flag regulations.
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