Bachmann helps simplify credit card math

June 3rd, 2008 – 5:05 PM by Kevin Diaz

In an effort to crack down on credit card fraud, Congress passed a law in 2003 limiting merchant receipts to five digits of a customer’s credit card number or the expiration date, but not both.

Many companies across America complied. But due to some confusion in the law, a number of businesses started printing receipts with both the truncated numbers and the expiration dates.

Even though experts testified in Congress that that is not enough to steal a card or an identity, the glitch opened hundreds of businesses’ cash registers to lawsuits.

On Tuesday, President Bush signed bipartisan legislation introduced by Rep. Michele Bachmann, R-Minn., and Tim Mahoney, D-Fla., that removes statutory damages for the mistake, thereby removing the incentive for class action lawsuits.

How does this help consumers? “The consumers,” Bachmann said, “pay the lawyers’ bills in the form of higher prices.”

5 Responses to "Bachmann helps simplify credit card math"

dare2sayit.com says:

June 3rd, 2008 at 5:15 pm

Good for Michele! Preditor trial lawyers are really hurting busnesses and our health care system, and we really need to get them under control.

SgtPendleton says:

June 3rd, 2008 at 9:45 pm

Even if she partnered with a Defeat o’crat?

Jay says:

June 4th, 2008 at 7:52 am

“Even if she partnered with a Defeat o’crat?”

Especially if. Good for her. This might be the first thing I’ve heard of her doing that made much sense to me. Maybe God told her to do it.

A logical step #2 would be to partner up across the aisle to establish tougher criminal penalties for people who are actually committing identity theft/fraud. I would suspect finding an eager/willing partner on the Dem side might be a little tougher on that one, but you never know.

parthian says:

June 4th, 2008 at 9:03 am

Once again, my comment fails to clear the BQ filter. Mystifying.

And there seems to be no one home to “release” it, so I’ll see you on another thread, I guess.

lloydletta says:

June 9th, 2008 at 8:18 pm

Mahoney was the chief sponsor and did the work on the bill. Michele Bachmann was one of many co-sponsors who just claimed credit. This is typical for Michele Bachmann.

http://dumpbachmann.blogspot.com/2008/05/michele-bachmann-claims-credit-for.html

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