Fair and Accurate Credit Transactions Act Class Action Litigation

The law firm of Perkins Coie reports on the more than 100 class action lawsuits that have been filed in federal court since December 2006 against a broad spectrum of retailers alleging violations of the Fair and Accurate Credit Transactions Act ("FACTA") of 2003 (15 U.S.C. § 1681 et seq.). "The suits allege these companies "willfully" violated FACTA by generating electronic customer credit or debit card receipts containing prohibited information, and seek awards of what some courts have described as "annihilating" statutory damages in the $100 million to $1 billion range, plus punitive damages and attorneys’ fees."