Consumers Should Look Out for FACTA Violations

One of the most effective tools against identity theft and credit card fraud is a modern consumer privacy policy passed by Congress.

In December 2003, Congress passed the Fair and Accurate Credit Transactions Act (FACTA) to fight the rising problems of credit card fraud. FACTA requires all merchants and retailers to follow specific regulations to help prevent against credit card fraud and identity theft.

By omitting certain information on the consumer’s credit card receipt, fraudsters cannot as easily deduce or discover vital personally identifiable information from the transaction record, such as bank account and credit card numbers.

This federal consumer protection law applies to all electronically printed customer receipts from cash registers, self-service kiosks, and restaurants. Consumers should be vigilant for FACTA compliance or violations on their debit or credit card receipts, as they have the right to have this information protected.

Overview of FACTA Violations and Penalties

Under the Fair and Accurate Credit Transactions Act (FACTA), all retailers must update their registers to omit certain information on debit or credit card receipts. Specifically, FACTA requires that all electronically printed receipts shorten, or truncate, debit or credit card numbers to show no more than the last five digits of the card.

The card’s expiration date must also be omitted, with stars or other shapes replacing the hidden numbers. It is important to note that FACTA does not apply to handwritten receipts,or receipts produced by an imprint or copy of the card.

The last five numbers and expiration dates of these cards are key pieces of information for identity thieves, so following this law is crucial for consumers. Merchants who fail to comply with the Fair and Accurate Credit Transactions Act face harsh penalties and potential FACTA class action lawsuit.

For willful violations, merchants are liable to pay an amount equal to the actual damage sum of not less than $100, or up to $1,000, per violation. This also includes punitive damages and legal fees, if the FACTA violations evolve into a credit card lawsuit.

If a merchant negligently, or unintentionally, violates the Fair and Accurate Credit Transactions Act, they are liable to pay an amount equal to the sum of actual damages. Consumers are encouraged to always check their debit or credit card receipts to determine FACTA compliance, and to report any violations.

Consumers who find violations should inform the merchant immediately, and remind them of the importance of identity theft protection and their obligation to follow FACTA. Furthermore, consumers should remind merchants that these simple steps protect vital personal information that could lead to credit card fraud.

Complaints should be filed with the Federal Trade Commission, or consumers can talk to a specialized legal expert to see if they can file a credit card lawsuit. Consumers have the right to file a credit card lawsuit to recover any damages that may have been brought on by the FACTA violations.

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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