| Send2Press.com • Today is Monday, February 13, 2012 | A Member of the Neotrope News Network |  |
|
|
NEWS ARCHIVES : U.S. and World News :
Banking and Finance
News
|
Press Release:
NAMB Names Red Flag Rules Preferred Provider: Majestic Security Delivers idBUSINESS Red Flag Compliance Module and Offers Borrower Protection
 Mortgage brokers are explicitly required to comply under Federal Trade Commission (FTC) enforcement with Red Flags Rules as part of the 2003 Fair and Accurate Credit Transactions Act (FACTA). The final rules require financial and credit institutions that hold any consumer account, or other account for which there is a reasonably foreseeable risk of identity theft, to develop and implement an Identity Theft Prevention Program. The program must include reasonable policies and procedures for detecting, preventing, and mitigating identity theft and enable a financial institution or creditor to: * Identify relevant patterns, practices, and specific forms of activity that are "red flags" signaling possible identity theft and incorporate those red flags into the program; * Detect red flags that have been incorporated into the program; * Respond appropriately to any red flags that are detected to prevent and mitigate identity theft; and * Ensure the program is updated periodically to reflect changes in risks from identity theft. "Earning NAMB's vote of confidence is a high watermark for Majestic Security, and allows our firm to help brokers avoid enormous business risks related to identity protection," said CEO of Majestic Security, Jim De Geronimo. "Majestic Security not only provides brokers a complete compliance solution and peace of mind for their business, but also creates a competitive advantage when they enroll in our 'Because We Care' borrower protection program." The Majestic Security "Because We Care" program extends its identity theft mitigation policy to borrowers by embedding a personal identity theft recovery service from ID Experts into the HUD of a mortgage, at a fraction of its retail price, protecting both the borrower and the broker, while building trust and long-term customer loyalty. "Mortgage brokers urgently need to become compliant with FACTA Red Flag Rules or face punitive action by the FTC, and possibly the states in which they are licensed," said Bryan Thornton, creator of the idBUSINESS Red Flag Rules Compliance Module. "An ideal Red Flag Rule compliance solution is built on real world forensic and information security experience. When a solution's foundation is built upon experience gained from field work with banks and mortgage companies, its capabilities create a footprint broader than the 26 identity theft 'Red Flags' itemized by the legislation, and delivers a more comprehensive set of identity theft triggers." Through Majestic Security's idBUSINESS compliance module, brokers can expect to begin meeting the requirements of the law within one hour. Upon satisfying the requirements, lenders can download their own custom Red Flag Compliance plan. About idBUSINESS idBUSINESS is the standard Information Security operating system for small- to mid-sized businesses. It provides information security planning tools that identify needs, assess risks, comply with the law, and secure an organization's data. idBUSINESS is powered by two leading firms in information security, ID Experts, the nation's leader in date breach prevention and remediation services, and Net Reaction, providers of forensics and information security planning products and services. To learn more, please visit www.idBUSINESS.com. All trademarks and service marks are the property of the respective parties.
NEWS SOURCE: idBUSINESS
Send2Press® is the originating wire service for this story. Terms of Use. © idBUSINESS. All trademarks acknowledged.
THE CONTENT OF THE ABOVE PRESS RELEASE WAS PROVIDED BY THE NEWS SOURCE (idBUSINESS), WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT THIS WEBSITE.
Journalist Resources:
Download original press release as issued including media contact information for idBUSINESS.
Additional News Releases on Similar Topics:
|
Subscribe to Send2Press®
Daily News Releases by E-Mail
Follow Send2Press on Social Sites: 
Additional News from
idBUSINESS :
|
||||||||||||||||||||||||||
View our news channels by industry topics, by U.S. States, or by selected U.S. Cities:
|
Terms of Use and License
This "article format" version of the issued press release is Copr. © 1983-2012 Neotrope/Send2Press. You may freely link to this article version of the press release or may use the release text as the basis for an original article or news posting. If the content is copied verbatim via a scraping or copy/paste method, the news item must be properly "attributed" to Send2Press® Newswire as the originating wire service for this story (may not be posted on ANY site selling/offering SEO or PR services, newswire services, or adult content!). |
DISCLAIMER: the above press release content is believed accurate but not guaranteed, and is based on business news supplied by the source. The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press (this website) makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope® or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES: NAMB Names Red Flag Rules Preferred Provider: Majestic Security Delivers idBUSINESS Red Flag Compliance Module and Offers Borrower Protection, idBUSINESS, identity theft, red flag rules, facta compliance, mortgage brokers, identity theft protection, idbusiness, majestic security, bryan thornton, ID Experts, SIND, press release, Apr 17, 2009. |
|
THIS PAGE MEDIA READS (by media and public, as of today): 4106 times (2 today, 2 this week, 21 this month, 72 this year)
Site Design and Content is Copr. © 1983 - 2011 Neotrope® - All rights reserved. Send2Press® is a reg. trademark and service mark of NEOTROPE.
Press Release Writing | About Send2Press | Meet Our Staff | Contact Us | Our Services | Help Desk | Legal | Privacy | How-To Articles | RSS Feeds | Journalist Tools | Client eMediaKits | Headline Feeds | Podcast | PR News Channels | Daily News Desk | Success Stories | PRTRax™ Reader Tracking | Targeted News Distribution | Internet Marketing Services | Order PR Services | Terms of Service (TOS)