President Bush signed into law H.R. 4008, the Credit and Debit Card Receipt Clarification Act of 2007. The Act was passed in response to a series of class action lawsuits alleging that merchants violated the Fair Credit Reporting Act by printing and providing consumers with a credit or debit card receipt that included the card’s expiration date. The Act provides that a merchant that printed a card receipt with an expiration date between December 4, 2004 and the date the Act was enacted, has not willfully violated FCRA, so long as it otherwise complied with FCRA’s provisions regarding truncation of card account numbers. The Act’s provisions apply to all actions, other than non-final actions, filed before or after its passage. Click here for a copy of the Act and floor debate when it passed the House.
Alert June 17, 2008