AMA Applauds FTC Delay of Red Flags Rule
For immediate release:
May 28, 2010
Statement attributable to:
Cecil B. Wilson, MD
"The American Medical Association (AMA) is pleased that Federal Trade Commission (FTC) has announced today they are delaying the compliance deadline for the red flags rule until the end of this year. We call on the FTC to exempt physicians from the rule completely.
"For two years, the AMA has made the case to the FTC that physicians are not creditors like banks and lenders, and the misguided red flags rule should not apply to them.
"Last week, the AMA filed a lawsuit asking a federal court to prevent the FTC from extending the red flags rule to physicians. The latest extension to the compliance date is a promising sign that the AMA lawsuit has caught the attention of the FTC.
“Last November, a federal court blocked the rule from being applied to attorneys after the FTC was found to be extending its regulatory power beyond that authorized by Congress. We hope this latest extension will be long enough for the FTC to take a good, hard look at the rule and finally exclude physicians from this unjustified and burdensome regulation of medicine."
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Robert J. Mills
AMA Media Relations