Fair and Accurate Credit Transactions Act (FACT Act)

Identity theft is a really hot topic not only in Congress but also in state legislatures across the country. In December 2003, Congress passed the Fair and Accurate Credit Transactions Act (FACT Act), which, among other things, requires employers to protect consumer information that is being discarded or disposed of. Many states also have enacted laws specifying how businesses must properly dispose of consumer information and may include requirements and penalties not in the FACT Act.

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