Some federal laws require safeguarding of sensitive documents.  Brief descriptions of some laws are listed below.  For further information and to help you comply with federal laws, please click on the Act for links to the following:

FACTA (the Fair and Accurate Credit Transactions Act), amended the Federal Trade Commission’s Fair Credit Reporting Act (“FCRA”) designed in part to reduce identity theft.  FACTA went into effect on June 1, 2005, imposing new regulations for specific document disposal standards for any business that handles consumer information.  Any person who possesses consumer information for a business purpose must take reasonable measures to prevent unauthorized use of that information and to dispose of it in a secure manner.  For further information link to: 

www.ftc.gov/opa/2005/06/disposal.htm

Gramm-Leach-Bliley Act requires all businesses that are significantly involved in providing financial products to consumers to safeguard any information they have about consumers and to include such safeguards in contracts with service providers.  Gramm-Leach-Bliley applies to banks and other traditional financial institutions, as well as check cashers, non-bank lenders, mortgage brokers, appraisers, tax preparers, data processors, auto dealerships and retailers who provide credit to customers.  For further information link to:

www.ftc.gov/privacy/glbact

HIPAA (the Health Insurance Portability and Accountability Act) requires all medical service providers to safeguard patient and employee information.  HIPAA does not require any specific method of disposal, but disposal companies providing services to medical providers are required to sign a Business Associate Agreement certifying that they will not disclose such information.  For further information link to:

www.hhs.gov/ocr/hipaa

Sarbanes-Oxley Act of 2002 affects corporate governance of financial and accounting disclosure information. For further information link to:

www.soxlaw.com