Recent lawsuits have been hitting the airwaves regarding the printing of too much information on credit card receipts. Class action suits have been filed against some big name companies because of their blatant disregard for the safety and security of their customers’ account information
The reason for this Act is quite simple – Congress wished to help protect consumers from fraudulent activity and identity thieves that may find a receipt with credit card information and use that information to illegally use the card.
Recently, consumers have been filing lawsuits against companies that have more than the maximum five digits printed on their receipts. Some have portrayed these lawsuits as predatory in nature and as being conceived by those looking to make a fast buck.
Personally, I do feel there are far too many frivolous lawsuits out there and there are certainly many people trying to take advantage of a situation in order to make a few dollars. In this case, however, I have to side with consumers. Businesses have had four years to implement this law and to make sure their receipts are in compliance – and it isn’t as if it is a difficult or expensive process, either. This is a clear example of negligence and a lack of concern on the part of the businesses. In addition, it is not as if consumers are the ones getting rich off of these class action lawsuits.
The good thing about all of the attention these lawsuits has received is the fact that it has caused a domino effect in which other businesses are frantically checking to make sure they are in compliance. This is good news for you and me, as it will further help to guarantee that your financial information remains secure.
Of course, as a responsible consumer, you should do much more than simply depend upon the businesses to do the right thing and to comply with the law. You should also be sure to check every receipt that you have and bring it to the attention of the business if it is not in compliance. Furthermore, keep those receipts close to you and make sure they never fall into the wrong hands – you will save yourself from a great deal of heartache.
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Check Out lawsuit against American Commercial Lines Inc.