The US federal banking regulators and the Federal Trade Commission issued final rules on November 9, 2007, regarding identity theft prevention and address discrepancies. The proposed rule had been discussed in the August 2006 Update . Under the final rules, financial institutions and creditors must develop and implement an identity theft prevention program to detect, prevent and mitigate identity theft in connection with certain customer accounts. The final rules also require financial institutions and creditors to put policies and procedures into place regarding a notice of address discrepancy received from a consumer reporting agency. The final rules, which are effective January 1, 2008, with compliance mandatory by November 1, 2008, can be accessed at any of the federal banking agencies' websites.