There are countless people across the country who use debit and credit cards every day. The added security provided by using debit and credit cards when compared to cash has given rise to a large industry; however, you may not realize that your personal information could be stored on these receipts. Based on the information on your credit and debit card receipts, you could be owed money.
Federal Laws Are in Place
There are federal laws that protect your private information from disclosure on credit and debit card receipts. This is called the Fair and Accurate Credit Transactions Act (FACTA), which indicates that businesses and companies can only print the last five digits of a card number on any given receipt. Furthermore, the expiration date cannot be printed. If the vendor prints more than this information, this could be a violation of FACTA, and it may entitle consumers to legal action.
Qualifying for Legal Action
Even though many people only look at their receipts for the total of the sale, it is important to look at the credit card information as well. If more than five digits of the credit card are printed (even if non-sequentially) or any part of the expiration date is printed, then you could be entitled to legal action. Some individuals might even be entitled to $1,000.
Furthermore, some individuals might even be able to serve as lead plaintiffs in a class-action lawsuit. In this case, the settlement amount might be even higher.
An Overview of FACTA
FACTA was passed back in 2003 as a way to protect people from the dangers of identity theft. Taking someone’s credit card number is one of the easiest ways to do exactly that. This sensitive information could even be accessed by criminals using a phishing attack against a sensitive database. FACTA seeks to curtail this activity. Sadly, some vendors still print too many digits, placing their customers at risk of identity theft.
There are a few common violations of FACTA printed on receipts. Sometimes, the expiration date is printed without slashes or breaks; however, if the expiration date is printed in any format, this is a violation. Furthermore, some receipts print more than five digits of the card number. They might not be sequential; however, this is still a violation. Anyone who receipt features one of these common violations should consider taking legal action.