Red Flag on Red Flag Rules

By now you should have your Red Flag Policy and program in place. Simply put, The National Credit Union Administration’s (NCUA) Red Flags Rule requires federal credit unions to develop and implement a written, risk-based identity (ID) theft prevention program to detect, prevent, and mitigate ID theft in connection with “covered accounts".

Here's a head's up: be sure your indirect dealers understand the rules and abide by your policy.