The Federal Trade Commission issue the Red Flag Rules on November 9, 2007. The effective date of the Red Flag Rules is August 1, 2009. Under the Red Flag Rules, a "creditor" that offers or maintains "covered accounts" must develop and implement and identity theft protection program to detect, prevent and mitigate identity theft. To learn more about the Red Flag Rules and their requirements, see The Red Flag Rules: New Requirements May Affect Private Practice Collection Policies as published in the January 2009 issue of Impact Magazine. (Note that the FTC delayed enforcement of the Rules to August 1, 2009 after this article was published.)