The Fair and Accurate Credit Transaction Act ('FACTA') was passed by Congress and signed into law on December 4, 2003, and became fully effective on December 4, 2006. The purpose of FACTA is to reduce the amount of personal confidential financial information that is generated and thereby reduce the incidence of identity theft and credit card fraud. In keeping with this goal, 15 USC 1681c(g)(1) requires that merchants that issue receipts to individuals truncate all but the last four or five digits of the customer's credit card account number and truncate the entire expiration date. ...read more

Last month we asked you, our readers, (Expert Communications) for input about what subjects you would like for us to feature. I would like to address one of those responses. Here is the expert's email response to our inquiry and my comments: Q1. For most experts, there is no point in becoming members of a 'National experts' organization. Most attorneys will only hire/engage experts living close by. R: I'm assuming that this expert is referring to referral services, which are no-initial-cost employment agencies that match up experts with attorneys needing their services. This viewpoint is not only inaccurate, but also sometimes quite the opposite is true....read more