Lead Buzz 07/05
FACTA explained, pregnancy discrimination and more
As of June 1, the Fair and Accurate Credit Transactions Act requires companies to destroy employees' personal information. Companies could face federal fines up to $2,500 and state fines up to $1,000 per violation.
The reasoning behind this law: identity theft, which caused headaches for an estimated 7 million Americans in 2003 alone. Under the new FACTA provision, employers could also pay an employee up to $1,000 in statutory damages on top of state and federal fines if his or her identity is actually stolen.
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