FACTA Restricts Credit Card Receipt Information to Protect Consumer Identity

In order to protect consumers’ identity information, FACTA was created to restrict credit card receipt information and prevent fraud and identity theft. While FACTA laws have been fully in place for over a decade, many people may not know what debit and credit card receipt information is allowed under these rules, and therefore do not know how to help enforce it, protecting their information and the information of countless others.

The Fair and Accurate Credit Transactions Act

The Fair and Accurate Credit Transactions Act, more popularly known as FACTA, consists of a set of laws intended to enforce protection of consumers’ debit and credit card receipt information. Restricting consumers’ credit card receipt information is meant to prevent identity theft and fraud, which can be extremely harmful for consumers and complicated to fix, even if it is caught quickly.

FACTA was first passed back in 2003. Though businesses were given some time to properly conform to the new rules, FACTA receipt requirements have been in full force since 2006. At this point, all printed receipts should now conform to FACTA credit card receipt information laws.

Even though the rules that make up FACTA are fairly simple, most consumers don’t know the specifics of these rules. However, knowing FACTA basics can help to more thoroughly protect your credit card receipt information. Consumers who report violations of FACTA’s credit card receipt information rules may even be eligible for some financial award.

Censored Credit Card Receipt Information

FACTA requires that businesses follow specific truncation requirements to censor the credit card receipts information printed on their customers’ receipts. If these rules are not followed exactly, businesses have committed a FACTA violation that may be penalized.

FACTA laws require that no more than the last five digits of a credit or debit card number may be displayed on receipts. The rest of the digits must be censored. Receipts which display digits from anywhere else in the card number, even if there are five or fewer displayed, violate FACTA rules. Displaying fewer than five digits is acceptable according to FACTA identity protection rules, provided those numbers are found in the last five digits of a card’s number.

While credit card numbers must be censored in part, certain credit card receipt information may not be displayed at all. FACTA rules prohibit businesses from printing any portion of a card’s expiration date.

FACTA Lawsuits Over Credit Card Receipt Information

For consumers who bring a successful FACTA civil lawsuit, the law offers statutory damages of up to $1,000 per violation of FACTA identity protection rules. This award is from the FACTA violation itself, and does not require having actually been injured by identity theft or another problem.

Any machine-printed receipts are subject to these FACTA rules for displaying credit card receipt information. Hand-written receipts are exempt from these rules. However, in this day and age, you would be hard pressed to find a business that uses hand-written receipts.

One machine that does not comply with FACTA law can affect hundreds or even thousands of customers at one time. Reporting a FACTA violation it can lead to better protection for all others who have receipts from that business. Indeed, large businesses who have printed thousands of FACTA non-compliant receipts may be heavily penalized for the transgression, given that each violation may cost them up to $1,000.

Proving that a business violated FACTA laws to protect your credit card receipt information is fairly simple. Take note of whether or not your receipts follow FACTA regulations for both card numbers and expiration dates. If they do not, then you may be able to file a FACTA lawsuit.

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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