What are the Facts on FACT
False advertising on the importance of the Fair and Accurate Credit Transaction Act (FACT) on consumer privacy. Some would like for consumers to belive that the new law provides more consumer privacy because it requires the shredding of paper records after a certain period of time has lapsed. However, the paper records are only one source of consumer privacy concerns. The bulk of privacy violations that involve disclosure of credit card information or customer accounts have come from database records that were not secure enough to prevent illegal access by unauthorized individuals.
Privacy is goal of new law, Sun Herald, December 12, 2004.
