Consumer Financial Services Law Blog
Dykema Gossett PLLC
Dykema Gossett PLLC

Consumer Financial Services Law Blog

Consumer Financial Services Law Blog

News and analysis regarding Consumer Financial Services litigation and regulation, and activities of the Consumer Financial Protection Bureau


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Showing 1 post in Fair and Accurate Credit Transactions Act (FACTA).

“Objectively Reasonable” Interpretation of FACTA Averts Liability

In Hammer v. Sam's E., --- F. 3d ---, 2014 U.S. App. LEXIS 10452 (8th Cir. June 5, 2014), the Eight Circuit Court of Appeals affirmed the District Court's grant of summary to Sam's Club on this class action Fair and Accurate Credit Transaction Act, 15 U.S.C. 1681 et seq (FACTA). The District Court found that although Sam's Club violated FACTA by printing more than the last five digits of consumers' credit card numbers on receipts, the violation was not willful, which is a statutory pre-condition to liability, because Sam's Club's interpretation of FACTA was objectively reasonable.  15 U.S.C. § 1681c(g)(1)Read More ›