The <em>ABA Journal </em>reports on Fried Frank's role in the AICPA's lawsuit against the Federal Trade Commission

The ABA Journal reports on Fried Frank's role in the AICPA's lawsuit against the Federal Trade Commission

The ABA Journal notes Fried Frank's representation of the American Institute of CPAs ("AICPA") in its lawsuit against the Federal Trade Commission (FTC) challenging the applicability of the "Red Flags Rule" to CPAs. The suit is filed in the U.S. District Court for the District of Columbia and is seeking an injunction barring the FTC from applying the Red Flags Rule to CPAs. The suit claims the rule, which would require businesses that extend credit to clients to take extra precautions against possible identity theft, should not be applied to CPAs. Washington, DC litigation partner Daniel Loeb and antitrust partner Bernard Nigro represent the AICPA in this matter.

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