Fair Credit Reporting Act (FCRA)

Recently, Federal Trade Commission Chairman Jon Leibowitz released the FTC’s 2010 Annual Report, which focused largely on the FTC’s endeavors to defend financially distressed consumers and to spur competition during these tough economic times.

For example, the FTC, among other things, emphasized that while the past year’s economic downturn prompted companies to offer new

As of January 1, 2009, and in contrast to federal law, California Civil Code Section 1747.09 requires that no more than the last five digits of a credit or debit card number be printed on both the electronically-printed card receipt retained by the business as well as the receipt provided to customers. See CAL. CIVIL

Which among the following businesses are potentially subject to consumer financial services laws, rules, and regulations?

A. a retail clothing chain
B. a bank or mortgage company
C. an internet retailer
D. a fast food franchisor
E. all of the above

If you answered E, “All of the above,” you are CORRECT. However, many companies do not