FACTA Compliant Receipts Will Not Show Card’s Expiration Date

FACTA compliant retailers understand the importance of handing you a receipt that contains limited credit card information.

The Fair and Accurate Credit Transaction Act of 2003 (FACTA) is designed to reduce the risk of identity theft from credit card and debit card fraud. Only the last five digits of the credit card number are allowed to appear on a FACTA compliant receipt. The card’s expiration date should never appear.

After FACTA was enacted in 2003, businesses were given a grace period until December 2006 to become compliant. The deadline was extended until June 2008 for some retailers.

A retailer who is proven to “willfully” violate FACTA can be held responsible to pay statutory damages ranging from $100 to $1,000 per transaction.

FACTA’s truncating rule only applies to electronically generated receipts. If, for example, you attend a local festival, purchase an item, and receive a handwritten receipt, FACTA rules do not apply.

Some smaller merchants who still use an imprinting machine to create receipts are also not required to be FACTA compliant with those particular receipts. With both handwritten and imprinted receipts, the consumer is responsible for making sure their card numbers don’t fall into the wrong hands.

Businesses Held Accountable for FACTA Compliant Settings

Businesses that have been FACTA compliant in the past could suddenly be out of compliance if their business software or credit card processing software has received an update. Sometimes the retailer who isn’t savvy about computers can find that after the update, their electronically generated receipts are no longer FACTA compliant.

Settlement Reached in New Jersey FACTA Case

Allegations that one small retailer was not FACTA compliant have ended with a settlement.

The case against PC Richard & Son LLC filed by customer MaryLisa R. who had filed a putative class action lawsuit reached a settlement in July. MaryLisa said her receipts from June 2016 included the expiration date of her American Express credit card, in violation of FACTA laws.

The settlement terms have not been made publicly available.

MaryLisa alleged that PC Richard was not FACTA compliant, nor compliant with New Jersey’s Fair Credit Reporting Act. The retailer countered that it was following merchant guidelines from American Express. MaryLisa responded by insisting PC Richard had more than a decade of information requiring FACTA requirements with respect to the data allowed on electronically printed receipts.

If you have received an electronically printed receipt that is not FACTA compliant, you could benefit from speaking with an attorney regarding your legal options. Always check your receipts to make sure they are showing only the last five digits of your card number and that the expiration date is not printed. Don’t delay–the FACTA statute of limitations provides a limited period in which you can bring a claim.

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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