Rural Water - Quarter 3, 2011 - (Page 36)

Regulatory Update BY ED THOMAS, NRWA Red Flag Rule – In the last quarterly magazine, we reported that water and wastewater utilities potentially may not be required to comply with the Red Flag Rule (www.ftc.gov/redfl agsrule). The rule was developed by the Federal Trade Commission (FTC) but the regulation came under a lot of scrutiny due to the broad scope of potential businesses who would be mandated to comply. In December, 2010 Congress passed legislation that changed the defi nition of “creditor” to significantly limit the type of entities covered by the rule. The FTC has initially indicated that many water and wastewater utilities are not likely included in the defi nition as a creditor as most utilities are providing a service and not advancing funds on the utilities behalf. However, utilities should ensure that they are excluded from the Red Flag Rule being exempt Continued on page 38 36 • Third Quarter 2011 http://www.ftc.gov/redfl

Table of Contents for the Digital Edition of Rural Water - Quarter 3, 2011

FROM THE PRESIDENT
WILL YOU SURVIVE THE NIGHT OF THE BABY BOOMER EXODUS?
A BOARD PERSPECTIVE:
HOW TO AVOID THE NONPROFIT LEADERSHIP GAP
WHAT’S IN A NAME?
ENGINEERING CONTRACTS 101 – PART TWO
REGULATORY UPDATE
THROWING MY LOOP
INDEX TO ADVERTISERS/ ADVERTISERS.COM
FROM THE CEO

Rural Water - Quarter 3, 2011

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