Fair and Accurate Credit Transactions Act Guidelines for Consumer Receipts

Many people who have purchased things at retail establishments and by simply receiving a receipt may have been the victims of violation of federal law enacted to protect consumers from identity theft.

It is important that retailers abide by the Fair and Accurate Credit Transactions Act (FACTA) when printing receipts for its customers.

What is the Fair and Accurate Credit Transactions Act?

The Fair and Accurate Credit Transactions Act is a federal law aimed at protecting consumers and their information. Enacted when identity theft and credit fraud were becoming a wider concern in 2003, the Fair and Accurate Credit Transactions Act regulates what information can and cannot be printed on receipts that customers receive. It also puts in place methods for consumers to check their credit rating.

According to the Fair and Accurate Credit Transactions Act, a retailer may not print more than the last five digits of a credit card or debit card number on a receipt. Additionally, the retailer may not print an expiration date of any kind on a retail receipt.

These rules are to help prevent debit and credit card fraud crimes as well as identity theft. Today’s thieves often rely on digital information by which to steal important information. If the information that moves between a consumer and a retail establishment falls into the wrong hands, that customer can be vulnerable to fraud and theft.

If in fact, a retail establishment does print more than the last five digits of your debit or credit card number or they print the expiration date, they are violating the Fair and Accurate Credit Transactions Act.

Even if no one has stolen your information or you cannot prove you have been harmed, the retailer may still be in violation of the Fair and Accurate Credit Transactions Act.

How Should My Receipts Look?

When you use a credit card or a debit card at a retail store, a portion of your card information is printed on the receipt. But the store may only print the last five digits of your card number. The other digits that are not printed are often replaced by a “*” symbol or a “#.”

For example, if a store is abiding by the regulations laid out by the Fair and Accurate Credit Transactions Act, your receipt may look like this:

#### #### ###1 2345

It could also look like this.

**** **** ***1 2345

If a receipt has any more numbers than this, or even if the numbers listed are near the beginning or in the middle, the store has violated federal law and may be subject to steep fines. Additionally, no part of the expiration date may appear at all.

For example, if the receipt reads ##/## for the expiration, the receipt is following federal guidelines. But if any number (such as ##/18) shows up in the expiration, that receipt is in violation of the Fair and Accurate Credit Transactions Act.

If you believe that you have been the victim of the violation of federal law in this manner, you may be able to join a class action lawsuit. Several FACTA class action lawsuits have been filed including those against Subway, Godiva and Jimmy Choo.

It may benefit you to speak to an experienced attorney regarding your legal options.

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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