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Merchants Information Solutions and NXG Strategies Respond to Financial Institutions' Red Flag Anxiety

Phoenix, AZ (PRWEB) June 29, 2008 -- With the recent announcement of the requirements of Red Flag Legislation by the joint regulatory agencies of NCUA, FDIC, FTC, OCC, FRB, and the OTS, Merchants Information Solutions, Inc. (MIS) and NXG Strategies, LLC have joined forces once again to design solutions for financial institutions scrambling to meet the November 1, 2008 compliance deadline.

"We are working diligently to help our clients meet those compliance deadlines with education, templates, training and new product configurations," said Scott Smith, President of NXG. Since many of the clients that work with the NXG/MIS team already provide identity theft mitigation for their members through the unique blanket recovery program, they are well on their way to having a comprehensive solution for the Red Flag rules.

In the weeks since the Red Flag Rules joint press release last October, this team of industry leaders has gathered resources to reach out to organizations across the country to help them meet the requirements. NXG, through their marketing partners nationwide, have presented dozens of educational webinars to hundreds of financial institutions, created plan template and gap analysis checklist tools to aid in program development and sought to answer process questions by bridging the gap between regulators and financial institutions.

At the core of all offerings is the proprietary IDSafeChoice managed recovery program, supported by MIS' professional Recovery Advocate Services. The newest product offers enhanced blanket recovery protection, expanded recovery services for accountholders, more comprehensive victim reporting to help with compliance requirements and some exciting options for additional services at lower-than-ever prices.

"As partners in providing quality identity theft services to clients nationwide, we are continually working together to identify the best programs and processes in the industry," said Russ Johnson, President of MIS. "We are pleased to be able to bring excellent products that are relevant and compliant, in a timely fashion and at a great price, to our clients."

About Merchants Information Solutions, Inc.

Merchants Information Solutions, Inc. (MIS) has been providing quality programs and services to businesses and consumers nationwide since 1912. Known nationally for its efforts to help individuals and businesses "get smart" about credit, MIS also provide a complete suite of solutions for preventing and recovering from identity theft. For more information about Merchant Information Solutions visit www.merchantsinfo.com.

About NXG Strategies, LLC

NXG Strategies is a pioneer in identity theft remediation and resolution services, and a national authority on the subject of identity theft methods and corporate information breach. Exclusively through its network of national and international marketing partners, NXG assists financial institutions, associations, retail organizations and service companies to assess their current security strategies for identity theft, and design solutions for customer acquisition/retention, consumer protection and compliance with Red Flag. For more information about NXG Strategies, LLC visit www.nxgstrategies.com and www.redflagrules.net.

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