Small Business Reading Room

Wednesday, May 11, 2005

FACTA on the Horizon, Office Depot Declares Small Business Month

You may not have known it, but the Office Depot is honoring America's 25 million small business owners this month. They have planned activities, and of course promotions to help small businesses adjust to the changing business world.

Executive vice president and chief merchandising/marketing officer, Chuck Rubin, has this to say:

From our focus on information protection products that address concerns about identity theft, to our credit card and loyalty program offers, we are providing the tools that help small businesses grow and succeed.

Consumer and employee information protection, now that is something worth talking about, even if you are just trying to sell a few extra paper shredders. Particularly since the FACTA (Fair and Accurate Credit Transaction Act) is set to take effect on June 1, 2005.

You remember FACTA, don't you?

Pres. Bush signed it into law back in December, 2003. The legislation covers a lot of areas. One way it affects small business is through efforts to combat identity theft by instituting stronger consumer protections, such as by requiring merchants to leave all but the last five digits of a credit card number off store receipts.

I guess the Office Depot is hoping we will all line up to buy new paper shredders.

Ahh, I love the smell of capitalism in the morning.

You can read their press release, and view surveys on info protection here.



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