FACTA Outlaws Printing Full Credit Card Number on a Receipt

According to the Fair and Accurate Credit Transactions Act (FACTA) of 2003, an amendment to the old Fair Credit Reporting Act, it is unlawful for a merchant to print your full credit card number on an electronically-printed receipt.

Many people have taken for granted the placeholder text we see on receipts today that represent unseen digits of a credit card number. The X’s, asterisks, or other characters listed sequentially before the last 4-5 numbers, which are allowed on a receipt, are meant to protect the consumer from identify theft.

There are exceptions to the law of not printing your full credit card number on a receipt, however. The exception applies to handwritten receipts and receipts made using an imprint of the card. But with the influence of mobile technology such as cell phones and payment attachments like Square, businesses that use the old-fashioned credit card imprint machines are quickly becoming a thing of the past.

It should be mentioned here that using the old imprint machines will result in a paper trail that has not only a full credit card number on a receipt, but also an expiration date which appears on the front of the imprinted credit card.

According to FACTA, electronically-printed receipts are also prohibited from displaying any part of the card’s expiration date. Printing both expiration dates and card number digits together provides even more opportunity for a breach of security from a potential thief. Consumers may question whether a charge is worth this kind of risk.

The Federal Trade Commission and FACTA

The Federal Trade Commission (FTC) is charged with administering regulations under FACTA to protect consumers from fraud.

If a merchant fails to audit and adjust their electronically printed receipts to conform to FACTA, an error such as a full credit card number on a receipt could cost them $100 to $1,000 per occurrence in individual litigation. If a pattern of non-compliance is revealed, a FACTA class action lawsuit could cost a company an astronomical amount in monetary damages.

Other Protective Elements of FACTA

In addition to not allowing a full credit card number on a receipt as well as a credit card expiration date, FACTA has other elements that protect the consumer from identity theft.

A consumer can get a copy of their credit report once a year free of charge from one of three major reporting agencies. These agencies are Experian, Equifax, and Trans Union. This allows the individual to monitor any unusual activity or trends that may be inaccurate and correct them.

Secondly, if a consumer suspects that they might have had a security breach that involved their personal identifiable information, they can set up an alert with a credit reporting agency.

They must contact you with a phone number of your choice in the event an application for credit is received attached to their name. This alert goes out from one to all credit reporting agencies and is good for 90 days unless an extension is filed. Upon extension, the alert could last for up to seven additional years.

Free FACTA Class Action Lawsuit Investigation

If you made one or more purchases and the retailer provided you with a receipt that contained more than the last five digits of your credit or debit card number or the expiration date, you may be eligible for a free class action lawsuit investigation and to pursue compensation for these FACTA violations.

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