The Fair And Accurate Credit Transaction Act (FACTA), which became effective less than 1 year ago, has important implications for our professional organizing company-- OrganizingLA.
One of the objectives of FACTA is to protect consumers from identify theft, so the new law includes a "Disposal Rule," which requires that "any person that maintains or otherwise possesses consumer information... properly dispose of any such information." This law, requires all businesses, no matter how small, to take "reasonable measures" to prevent unauthorized disclosure of consumer's financial information.
What the heck does this mean for you and for us? For OrganizingLA, whether we work in Los Angeles, Santa Barbara, Philadephia, New York City or Palm Beach, that means that, now more than ever, we must take care to render sensitive information unreadable before discarding it.
Our good friend Monica Ricci, an organizing expert from Atlanta, has great tips on preventing identity theft.
Visit the Federal Trade Commission and read 16 CFR Part 682 (pdf). Info above courtesy of NAPO.
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