GOT A CREDIT CARD RECEIPT WITH MORE THAN FIVE CARD NUMBERS ON IT?Any credit card receipt with five or more card numbers (or the expiration date) on it may be worth $100 or more!
In 2003, the US Congress passed a federal statute that sought to protect consumers against identity theft. Statute 15 UCA 1861, part of the Fair Credit Reporting Act (FACTA) prohibits merchants from printing on any receipt five or more digits of the credit or debit card and also prohibits printing the expiration date. The statute affected many merchants as of January 1, 2005 and it affected everyone as of December 4, 2006.
Congress passed the statute to protect consumers against fraud and to make it harder to get people's credit card numbers.
Most merchants have complied but some have not.
15 USC 1861c(g) provides for minimum damages of $100 per violation. The federal district court in Los Angeles has held, in a pending class action case against IKEA, that individuals have the right to sue under statute 15UCA 1861 to collect their $100.
Class action suits are forming against other merchants who have failed to comply.
Consumer Credit Information Protection ArticlesIKEA Credit Card Consumers
A recent California court decision involving giant retailer IKEA has opened the door for wide-scale penalties that businesses may have to pay to consumers regarding what's printed on consumer credit card receipts.
The Cost of Credit Card Fraud
According to the US Department of Homeland Security, the cost of credit and charge card fraud may be as high as $500 million a year. And it's not just the credit card companies that are left holding the bag - cardholders often face economic losses, lengthy legal battles and struggles to re-establish clean credit records.
This Could Happen to You
Consumer Credit Information Protection: Not All Companies Follow the Rules
Merchants Put Consumers at Risk of Identity Theft