Home

Senate Approves Changes to “Red Flag” Rule
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Despite Republican promises to block any legislation in the Senate until the Bush tax cuts are extended, the Senate moved quickly yesterday to approve a bill co-sponsored by John Thune (R-SD) and Mark Begich (D-Alaska) that would redefine the term “creditor” for purposes of the controversial “red flag” rule used by the FTC.  Under the current broad definition, lawyers, doctors, and other people or businesses that provide services upfront in the expectation of future payment are considered creditors.  This bill redefines it to a more common sense definition of someone that advances funds based on credit reports in the expectation that the money will be repaid later.  The House of Representatives must take up the bill before it will become law, but the ABA is anticipating quick passage by the House.



 

RELEVANT JOBS

LITIGATION PARALEAL

USA-LA-Baton Rouge

LITIGATION PARALEGAL Job Description Immediate opening: Downtown law firm seeking experienced ...

Apply now

Paralegal

USA-LA-Baton Rouge

  LITIGATION PARALEGAL Job Description Immediate opening: Downtown law firm seeking ex...

Apply now

Associate Attorney

USA-TX-El Paso

Flores, Tawney & Acosta PC is seeking a new to 4-year attorney to join its growing plaintiff’s...

Apply now

Legal Secretary

USA-NJ-Tuckerton

Seeking a full time legal secretary in a small firm located at the Jersey Shore. Prior law firm expe...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Junior Partner level Corporate and Securities Attorney

USA-IL-Chicago

Chicago office of a BCG Attorney Search Top Ranked Law Firm seeks junior partner level corporate and...

Apply Now

Public Works Construction Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks public works construction attorn...

Apply Now

Public Works Construction Attorney

USA-CA-Los Angeles

Los Angeles office of a BCG Attorney Search Top Ranked Law Firm seeks public works construction atto...

Apply Now

SEARCH IN ARCHIVE

To Top