Accountants Want Out from New Identity Theft Rules, Just Like Lawyers

Jordan Weissmann writes:

Fresh off the American Bar Association’s success fending off the application of new anti-identity theft regulations to lawyers, a trade group representing certified public accountants has filed its own lawsuit over the rules.

The American Institute of Certified Public Accountants, represented by Fried, Frank, Harris, Shriver & Jacobson partners Daniel Loeb and Bernard Nigro Jr., filed suit yesterday against the Federal Trade Commission at the U.S. District Court for the District of Columbia. It claims the so-called “Red Flags Rule,” which would require businesses that extend credit to clients to take extra precautions against possible identity theft, should not have been applied to CPAs.

Read more on the Blog of Legal Times.

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