Alexandria, VA – The National Association of Chain Drug Stores (NACDS) is calling Congressional passage of the Credit and Debit Card Receipt Clarification Act a victory for the protection of consumer privacy and for the protection of retailers against predatory lawsuits.

The legislation clarifies that printing expiration dates of a credit or debit card on a receipt, along with the last few numbers of that card, has not been a violation of the Fair Credit Reporting Act. Retailers have been the victims of predatory lawsuits by class action attorneys based on the printing of expiration dates on receipts, even though this practice has not harmed consumers.

The Credit and Debit Card Receipt Clarification Act would open the door for retailers to move to dismiss many of these bogus yet costly lawsuits.

“This legislation is a much-needed bogus lawsuit buster. Frivolous lawsuits are an abuse of the system, a tremendous drain on businesses, a distraction from the real work on important issues like consumer protection, and ultimately an attack on all consumers. It is a credit to the Congress and its leaders on this issue that this abuse has been recognized and addressed,” said NACDS President and Chief Executive Officer Steven C. Anderson, IOM, CAE.

“Chain drug stores contribute mightily to patients' health and to the economic vitality of the community. This legislation is important for protecting these businesses from unjustified economic attack.”

NACDS thanked Rep. Tim Mahoney (D-FL) and Sen. Charles Schumer (D-NY), the primary sponsors of the House of Representatives legislation (H.R. 4008) and Senate legislation (S. 2978), respectively. NACDS also thanked House of Representatives Financial Services Committee Chairman Barney Frank (D-MA) and Ranking Member Spencer Bachus (R-AL), who worked to bring the measure to the House of Representatives under Suspension of the Rules.

President Bush must sign the measure for it to be enacted into law.