FACTA (Fair and Accurate Credit Transactions Act)

The Fair and Accurate Credit Transactions Act of 2003, or FACTA, amended the Fair Credit Reporting Act to fight identity theft. It created the right to free annual credit reports, fraud alerts, and several other protections. For class actions, its best-known provision is the receipt truncation rule.

Under 15 U.S.C. 1681c(g), a business that accepts credit or debit cards may not print more than the last 5 digits of the card number, or the expiration date, on any receipt given to the cardholder at the point of sale. The rule applies to electronically printed receipts, not handwritten ones or those imprinted by manual machines.

Because willful FCRA violations carry statutory damages of $100 to $1,000 per consumer, a store that printed full card numbers or expiration dates on thousands of receipts can face a large class action. However, courts have increasingly dismissed FACTA cases where the plaintiff cannot show a concrete harm, such as an actual risk of identity theft, following Supreme Court decisions on standing. Results vary by circuit, and settlements have often paid modest amounts per class member.

If you have a receipt showing your full card number or expiration date, keep it; it is the core evidence. See our FACTA receipt lawsuit page, the FACTA guide, and the Trader Joe's FACTA settlement for a real example.