P.C. Richard & Son FACTA Settlement: $4.9M

Consumers who made purchases at P.C. Richard & Son stores in the United States and received a receipt displaying the full expiration date of their credit or debit card between November 12, 2015, and August 18, 2016, are eligible for settlement benefits.

• Pre-approved Claim: If you received a notice with a Claim Number beginning with the letter "A," you are pre-approved and do not need to submit additional documentation.
  
  
• AmEx Cardholder: If you received a notice with a Notice Number beginning with the letter "P," you must submit a short-form claim to verify that the AmEx card used was personal, not business-related.
  
  
• General Claim: If you did not receive a pre-approved notice, you must submit a claim form along with a copy of your P.C. Richard & Son receipt displaying the full credit or debit card expiration date, or a copy of your credit or debit card statement showing a purchase at P.C. Richard & Son during the specified timeframe.

P.C. Richard & Son, a major electronics and appliance retailer, has agreed to settle a $4.9 million class action lawsuit alleging violations of the Fair and Accurate Credit Transactions Act (FACTA).

FACTA, a federal law aimed at combating identity theft, prohibits retailers from printing more than the last five digits of a customer's credit or debit card number, along with the expiration date, on receipts. The lawsuit against P.C. Richard & Son claimed that the company printed receipts that included the full expiration date of customers' credit and debit cards, thereby increasing the risk of fraud if the receipts were misplaced or stolen.

While P.C. Richard & Son maintains that it did not violate FACTA, the company has agreed to settle to avoid the costs and uncertainties of litigation. As part of the settlement, P.C. Richard & Son will implement a new policy to ensure that future receipts comply with FACTA regulations.

The settlement applies to all customers who made purchases at P.C. Richard & Son stores in the United States and received a receipt displaying the full expiration date of their credit or debit card between specific dates outlined in the settlement terms.

The total settlement amount is $4.9 million. Eligible class members can receive a payment of up to $1,000. The exact amount will depend on the total number of claims filed.