FACTA Protects Consumers Against Debit Card Receipt Violations

A federal act passed in 2003 was designed to safeguard the personal information that appears on credit card and debit card customer receipts.

The Fair and Accurate Credit Transactions Act (FACTA) helps protect consumers’ personal information by setting guidelines for businesses to follow when they print receipts.

It also imposes heavy penalties for merchants who engage in credit and debit card receipt violations that are not in accordance with the act.

In addition to providing rules around the safety of debit and credit card receipts provided to customers, FACTA also allows consumers to receive a free annual credit report from each of the three nationwide credit reporting agencies – Equifax, Experian and TransUnion.

FACTA Credit Card and Debit Card Receipt Violations

The rules under FACTA require businesses to print no more than the last five digits of the cardholder’s account number on receipts provided directly to customers. In addition, no part of the expiration date of a credit card or debit card may appear on a receipt.

Businesses that commit credit and debit card receipt violations by failing to truncate information on receipts can be held responsible for paying large penalties as a result. This applies not only to large businesses and corporations but also to small business owners and sole proprietors.

All credit and debit card receipts are covered under FACTA except those that are hand written or those that are mechanically imprinted directly from the card.

Businesses may keep their own copy of receipts that do include the full credit card number and expiration date, but any receipt provided directly to a customer must comply with the guidelines set forth in the act.

Credit and debit card receipt violations can result in law enforcement actions taken by the Federal Trade Commission. Consumers can also file a FACTA lawsuit to hold businesses accountable for credit and debit card receipt violations.

If businesses are found to have willfully violated FACTA rules, statutory damages may be awarded in the amount between $100 and $1000 per violation. For consumer lawsuits, attorneys’ fees may also be awarded.

Some businesses have been hit with FACTA class action lawsuits and have paid millions of dollars to resolve these claims.

Filing a FACTA Lawsuit

FACTA class action lawsuits can send a clear message to businesses as consumers take the security of their personal information seriously.

Businesses can be financially punished as the FACTA lawsuit calls attention to their practices. A FACTA lawsuit can also help other consumers by forcing the business to take setps to secure the personal information of others.

If you have received a receipt from a business that you believe includes credit or debit card violations under FACTA, you may be entitled to legal compensation. A lawyer experienced in FACTA compliance can review your case for free and help you decide if filing a class action or individual FACTA lawsuit is right for you.

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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