FACTA Credit Card Receipt Rules Protect Consumers

Consumer privacy and identity theft prevention, especially in the electronic age, is a very important topic that affects all of us who pay with anything other than cash. Rules and regulations have been established so that businesses take actions to protect the identity of consumers so they are not the target of identity thieves.

One such piece of legislation that was enacted in order to protect consumers is known as the Fair and Accurate Credit Transactions Act, or FACTA for short. FACTA was enacted in 2003 as an amendment to the Fair Credit Reporting Act.

Many are familiar with the provisions of FACTA that allow consumers to receive a free copy of their personal credit report each year from the top three credit reporting bureaus. But fewer consumers are aware of FACTA credit card receipt rules that are also part of the legislation.

FACTA Credit Card Receipt Rules: The Basics

There are two main rules that businesses must follow in order to remain compliant under FACTA credit card receipt rules. Together, these rules are also referred to as truncation requirements, meaning that the amount of information that appears on receipts must be shortened. The FACTA credit card receipt rules are as follows:

1) Businesses may not print any more than the last five digits of a consumer’s credit card or debit card number on an electronically printed receipt that is given to the customer. This applies to businesses of any size, from small mom-and-pop shops to multibillion-dollar businesses. Less than five digits may appear on receipts, but they still can only fall within the last five digits of the account number.

The law does not apply to receipts that are handwritten, receipts made from a credit card imprint, or to records that are retained by the business for accounting purposes. All other receipts that are hand directly to the consumer that are electronically printed do fall under FACTA credit card receipt rules.

2) No part of the debit card or credit card’s expiration date may appear on the receipt. Businesses may choose to leave the data off in its entirety, or they may leave blank spaces in between dashes or slashes used to indicated date, they may use asterisks or other symbols, but they may not list any part of the date.

Did a Business Violate FACTA Credit Card Receipt Rules?

If you are in possession of a receipt that you believe has violated FACTA credit card receipt rules, you may be eligible to take legal action against the business that issued the receipt. A lawyer experienced in FACTA litigation can provide you with a free case review to discuss the details of your situation to determine your eligibility for filing a lawsuit.

Claimants who are successful in filing a FACTA credit card receipt rules lawsuit may be able to recover damages related to the violation of FACTA even if no actual harm occurred, such as being a victim of identity theft. Additionally, filing a FACTA lawsuit can send a strong message to businesses by letting them know that identity theft prevention should be followed at all times.

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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