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Financial Institution Letters

Identity Theft Red Flags, Address Discrepancies, And Change of Address Regulations
Frequently Asked Questions
FIL-30-2009
June 11, 2009


Summary: The FDIC, along with the other federal financial institution regulatory agencies and the Federal Trade Commission, has issued the attached frequently asked questions (FAQs) on identity theft "red flags," address discrepancies, and change of address requests.

Highlights:

  • On November 15, 2007, the FDIC issued a final rule and guidelines addressing identity theft red flags, address discrepancies, and change of address requests (see FIL-100-2007, dated November 15, 2007).
  • The FDIC has published the attached FAQs to assist financial institutions in conforming with the regulation and guidelines.
  • The FAQs are divided into four sections and include answers to questions concerning:
    • the scope of the regulation,
    • the definition of "covered account," the definition of "service provider,"
    • types of notices of address discrepancy that trigger the rule, and
    • furnishing a confirmed address to a consumer reporting agency.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Compliance Officer
Chief Information Security Officer

Related Topics:
FIL-100-2007, Identity Theft Red Flags, November 15, 2007

Attachment:
Frequently Asked Questions: Identity Theft Red Flags and Address Discrepancies
"Frequently Asked Questions: Identity Theft Red Flags and Address Discrepancies" - PDF (PDF Help)

Contacts:
Jeffrey Kopchik, Senior Policy Analyst, at
jkopchik@fdic.gov or (202) 898-3872; or Richard Schwartz,
Counsel, at rischwartz@fdic.gov or (202) 898-7424

Printable Format:
FIL-30-2009 - PDF (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2009/index.html

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877- 275-3342 or 703-562-2200).




Last Updated 6/29/2009 communications@fdic.gov