CIPP-US · Question #8
CIPP-US Question #8: Real Exam Question with Answer & Explanation
The correct answer is B. The truncation of account numbers on credit card receipts. The Fair and Accurate Credit Transactions Act (FACTA) is an amendment to the Fair Credit Reporting Act (FCRA) that was enacted in 200. FACTA aims to enhance consumer protection against identity theft and fraud by requiring various measures, such as free annual credit reports, fra
Question
Options
- AThe ability for the consumer to correct inaccurate credit report information
- BThe truncation of account numbers on credit card receipts
- CThe right to request removal from e-mail lists
- DConsumer notice when third-party data is used to make an adverse decision
Explanation
The Fair and Accurate Credit Transactions Act (FACTA) is an amendment to the Fair Credit Reporting Act (FCRA) that was enacted in 200. FACTA aims to enhance consumer protection against identity theft and fraud by requiring various measures, such as free annual credit reports, fraud alerts, and identity theft prevention programs. One of the consumer protections that FACTA requires is the truncation of account numbers on credit card receipts. This means that only the last four or five digits of the account number can be printed on the receipt, while the rest must be masked or deleted. This reduces the risk of unauthorized access or use of the account number by third parties who may obtain the receipt.
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