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Class Action Defense Issues–Federal Fair and Accurate Credit Transactions Act (FACTA)

Class Action Defense Attorneys Urged to Advise Clients about FACTA Requirements

Congress has amended the Fair Credit Reporting Act to include the Fair and Accurate Credit Transactions Act. That statute requires that credit card receipts provided to customers be modified so that the credit card number shown on the receipt is truncated and so that the expiration date is omitted. Defense attorneys are encouraged to be proactive in warning their clients about the statute, which takes effect in December 2006. The author predicts that this will be a ripe area for class action litigation.