19.5. Red Flags Rule - General Information
A. Introduction
The Federal Trade Commission added title 16 of the Code of Federal Regulations (CFR), the Red Flags Rule, under the Fair and Accurate Credit Transactions Act of 2003. Red flags are suspicious patterns or practices, or specific activities that indicate the possibility that identity theft may occur. The Red Flags Rule requires Grand Rapids Community College to implement a written identity theft prevention program designed to identify and detect the warning signs ("red flags") of identity theft in day-to-day operations.
As a result, the college adopted guidelines to address the following:
- Receiving an address change discrepancy notice from a consumer reporting agency (as per 681.1).
- Opening and maintaining covered accounts (as per 681.2).
- Issuing and reissuing debit after an address change request (as per 681.3).
The Identity (ID) Theft Prevention Program was implemented by the College to protect consumers in the following situations:
- Upon accepting an extension of certain types of credit - either directly or indirectly - by the College.
- Receiving a Notice of an Address Discrepancy after requesting a consumer report from a consumer reporting agency.
- Requesting an additional or replacement debit or credit card that follows shortly after an address change request.
All areas, departments, colleges, and schools that hold personally identifiable financial records and information and/or covered accounts must comply with ID Theft Prevention Program.
B. Resources
C. Contact Information
GRCC is committed to safeguarding all College resources, including financial resources. In furtherance of this commitment, the College closely monitors enrollment applications and corresponding transaction requests with the goal of ensuring that the financial services provided to each student applicant or enrollee are as prompt, effective and transparent as possible.
In connection with its efforts to protect students and safeguard College resources, GRCC maintains internal systems and safeguards to address suspicious enrollment applications and related transaction requests. These systems and safeguards serve a vital purpose, but may occasionally result in requests for prospective students to provide additional documentation or other information as a means of verifying an enrollment application. Any employee who is aware of suspicious financial, enrollment or academic activity should email appmonitoring@grcc.edu. Concerns may also be reported anonymously by calling the College's Ethics Hotline at: (616) 234-3169.