Credit Card and Debit Card Receipt Rules Protect Consumers

FACTA, a federal law aimed at preventing identity theft, has one detail critical to retailers: strict rules for credit card and debit card receipts.

At first, the rules may appear pedantic, but each part of FACTA helps prevent identity theft by making it harder to glean information from credit card and debit card receipts.

So what does a credit card receipt have to do with identity theft? Credit card and debit card receipts often have information on them to help with returns and the store’s records. However, most people do not zealously guard these random slips of paper. As such, a savvy dumpster diver identity thief could hypothetically access all of this information. Here’s where the FACTA law comes in.

FACTA greatly restricts what information can be legally printed on credit card and debit card receipts. Some of the rules are common sense. For example, credit card and debit card receipts may not show the entire account number. But FACTA takes this identity security measure even further.

Though credit card and debit card receipts may show part of the number to help customers figure out which card they used, the receipts have to cut down or “truncate” the number in a very specific way. Only the last five digits of the card number may be printed on the receipt.

For example: **** **** ***x xxxx, where the Xs are uncensored numbers.

FACTA is very clear: only the last five digits may show. This is not just bureaucracy. Theoretically, if different stores used a different five digits for their receipts, identity thieves could piece the cards together from different stores’ receipts.

Additionally, credit card and debit card receipts may not show the card’s expiration date. If you receive a debit card or credit card receipt showing this information, it is a potential FACTA red flag. There are a few logistical exceptions to the rule.

First, the FACTA rules only apply to credit card and debit card receipts that are electronically printed. Analog prints, like old-fashion imprinting machines are exempt. Hand-written receipts are also exempt. But FACTA credit and debit card receipt rules do cover the vast majority of credit card and debit card receipts.

Additionally, FACTA was phased in slowly. FACTA was first passed in late 2003, and merchants with newer machines were given up to the end of 2004 to comply. Merchants had until the end of 2006 to upgrade or replace older machines to make sure they were in FACTA compliance in terms of their credit card and debit card receipts.

FACTA is designed to be enforced in two ways. First, the U.S. Federal Trade Commission’s law enforcement may assess fines or other sanctions. But FACTA’s credit card and debit card receipt rules are also designed to be partially enforced by FACTA lawsuits by consumers.

This may take the form of FACTA class action lawsuits against retailers who do not comply with FACTA rules. The FTC puts all of the FACTA credit card and debit card receipts on their website to help merchants with FACTA compliance.

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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