Lawsuits May Be Filed by Consumers Who Find Failure to Meet FACTA Compliance

Federal regulations require FACTA compliance in order to protect the private data of consumers. The printing of credit or debit card information on credit card receipts, which are ultimately thrown away by consumers, may allow identity thieves to capture this information and use it later on. Laws are now designed to prevent identity theft by hiding information on receipts.

FACTA compliance is an increasingly important component for all businesses who make use of credit cards. The way that information is printed on credit card receipts is clarified through FACTA compliance laws, and those consumers who identify businesses that are not in line with FACTA compliance may be eligible to pursue claims against the business in question. Anyone whose card details were printed on business receipts as a violation of FACTA compliance may be eligible to take legal action.

Businesses are forbidden from printing more than the last five digits of the credit card digits or the card’s expiration date on any electronically-printed receipts. Printing more card information than that can expose consumers to a greater risk of financial fraud.

FACTA compliance rules allow those consumers who identify violations to take next steps. If any company receipt included greater than the last five digits of a credit card number or the expiration date, consumers might be eligible to pursue penalties under FACTA and receive up to $1,000 per violation.

FACTA is part of the Fair and Accurate Credit Transaction Act, which forbids businesses from printing the expiration date or higher than the final five numbers of the card on a receipt that was given at the time of sale. This was an addendum to the Fair Credit Reporting Act that came about in 2003.

FACTA also provides additional benefits for consumers, including the right to put notices on their credit histories if identity theft is suspected, and to get a free credit report every year from every one of the three consumer credit reporting agencies.

Some merchants may have been under the impression that they met the guidelines for FACTA compliance by truncating a credit card number. However, if this did not remove the expiration date, a consumer may still be exposed to the risk of identity theft.

The Debit Card Receipt Clarification Act was an amendment to FACTA, indicating that the expiration date must be removed in addition to the reduction of the credit card number. There have been many different FACTA settlements and lawsuits in recent years, filed by those consumers who believe that businesses listed more than they were allowed to on receipts.

Throwing away a receipt without carefully looking at it could enable an identity thief to gather information and ultimately use this to open new accounts in the consumer’s name. Make sure that every time you make a purchase, you carefully review the receipt handed to you to figure out whether or not it is a possible violation of FACTA compliance, and one that may allow you to pursue legal action with the support of an experienced attorney.

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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