I 

108TH CONGRESS 

1ST SESSION H. R. 3254

To amend the Electronic Fund Transfer Act to require truncation of account 

numbers on transaction receipts, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 7, 2003

Mr. FRELINGHUYSEN introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL

To amend the Electronic Fund Transfer Act to require truncation of account numbers on transaction receipts, and 

for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Consumer Credit and 

5 Identity Protection Act of 2001’’. 

6 SEC. 2. TRUNCATION OF ACCOUNT NUMBERS ON TRANS7 ACTION RECEIPTS. 

8 (a) IN GENERAL.—Section 906 of the Electronic 

9 Fund Transfer Act (15 U.S.C. 1693d) is amended by add10 ing at the end the following new subsection: 
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1 ‘‘(g) TRUNCATION OF ACCOUNT NUMBER ON TRANS2 ACTION RECEIPTS.—In identifying a consumer’s account 

3 in the documentation required under subsection (a) with 

4 respect to an electronic fund transfer initiated by the con5 sumer at an electronic terminal, only the last 4 digits of 

6 such account number may be printed on the document.’’. 

7 (b) EFFECTIVE DATE.—

8 (1) IN GENERAL.—The amendment made by 

9 subsection (a) shall take effect on January 1, 2003. 

10 (2) TEMPORARY WAIVERS.—The Board of Gov11 ernors of the Federal Reserve System may, by regu12 lation or order, waive the applicability of the amend13 ment made by subsection (a) for up to 1 additional 

14 year with respect to electronic terminals first put 

15 into operation before the date of the enactment of 

16 this Act, or any type or subset of such electronic ter17 minals, if the Board determines that retrofitting any 

18 such existing terminal to comply with the amend19 ment by the effective date is unduly burdensome. 

20 SEC. 3. FEDERAL RESERVE BOARD STUDY ON TRUNCATION 

21 OF CREDIT AND DEBIT CARD ACCOUNT NUM22 BERS IN ALL CONSUMER TRANSACTIONS. 

23 (a) STUDY REQUIRED.—The Board of Governors of 

24 the Federal Reserve System shall conduct a study on—

25 (1) the feasibility of—
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1 (A) permitting only an electronic terminal 

2 to be used in any transaction involving the use 

3 of a consumer’s credit card or debit card; 

4 (B) requiring the use of a code or other 

5 unique form of identification (other than a sig6 nature) to access the consumer’s account for 

7 purposes of effectuating any transaction involv8 ing any such credit or debit card; and 

9 (C) requiring the truncation of the con10 sumer’s account number on any receipt pro11 vided in connection with any transaction involv12 ing a consumer’s credit or debit card; and 

13 (2) the extent to which the implementation of 

14 such requirements would reduce the incidence of 

15 identity theft and fraud. 

16 (b) REPORT.—The Board of Governors of the Fed17 eral Reserve System shall submit a report to the Congress 

18 before the end of the 9-month period beginning on the 

19 date of the enactment of this Act containing the findings 

20 and conclusions of the Board with respect to the study 

21 conducted pursuant to subsection (a) and such rec22 ommendations for legislative or administrative action as 

23 the Board determines to be appropriate.

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