News & Information

TITAN Mobile Shredding shred truck

How We Help Your Office Comply with FACTA

The Fair and Accurate Credit Transactions Act (FACTA) is an amendment to the Fair Credit Reporting Act that requires businesses to limit the risk of sensitive personal data falling into the wrong hands. If you have a business in the greater Philadelphia area, we can help you comply.

Who Is Affected by FACTA

The Federal Trade Commission (FTC) on its website states that anyone who uses a consumer report for business purposes is subject to the Disposal Rule. The FTC defines the covered data as follows:

The Fair Credit Reporting Act defines the term consumer report to include information obtained from a consumer reporting company that is used – or expected to be used – in establishing a consumer’s eligibility for credit, employment, or insurance, among other purposes. Examples of consumer reports include credit reports, credit scores, reports businesses or individuals receive with information relating to employment background, check writing history, insurance claims, residential or tenant history, or medical history.

Types of organizations or businesses specifically mentioned by the FTC that use consumer reports as defined above include:

  • consumer reporting companies
  • lenders, mortgage brokers, debt collectors
  • insurers
  • employers (information collected for employment)
  • landlords
  • government agencies
  • auto dealers
  • attorneys, private investigators
  • individuals who pull consumer reports on prospective home employees, such as nannies or contractors
  • medical or health institutions
  • entities that maintain information in consumer reports as part of their role as a service provider to other organizations covered by the Rule

The FTC further suggests that “although the Disposal Rule applies to consumer reports and the information derived from consumer reports, the FTC encourages those who dispose of any records containing a consumer’s personal or financial information to take similar protective measures.”

How Personal Records Should Be Handled

The FTC requires “reasonable measures,” but leaves the exact method of disposing of consumer data up to the institution. They recommend establishing and complying with policies to “burn, pulverize, or shred papers” and to “destroy or erase” electronic files and other media containing sensitive data so that they cannot be read or reconstructed, or to hire a document destruction contractor to dispose of the material as directed.

The FTC recommends organizations carefully research such disposal contractors by determining their compliance with all applicable rules; confirming that the disposal company is certified by a recognized trade association; and reviewing the disposal company’s information security policies or procedures.

At TITAN Mobile Shredding, we are NAID AAA Certified. NAID AAA is recognized by regulatory organizations as the premier standard for integrity, security, and compliance. We receive regularly-scheduled audits as well as unannounced audits to verify standards of operation and security. Customers are able to monitor our compliance and are invited to request an audit report to monitor our certification and to ensure we meet the regulatory risk assessment requirements. In addition, TITAN is one of the few shredding companies in the region that is certified to destroy not only documents but also hard drives, CDs, DVDs, and other digital data.

Consequences of Non-Compliance

Non-compliance with FACTA or one of the many other laws and regulations regarding disposal of documents could total over thousands of dollars in fines from the state and federal government, opening oneself up to lawsuits, and the negative impact on business caused by a data breach.

We all want our personal data kept safe. The companies that give us transparent reassurance that our records will be kept safe and secure and will be properly disposed of are the companies we’re more likely to work with. The same is true for your clients and customers.

TITAN works with you to determine your company’s particular needs and to provide an easy, affordable method to keep you in compliance with FACTA and all other applicable laws. Our many testimonials speak to our focus on safety, security, and customer satisfaction. Contact us today at (215) 766-3480 or (866) 848-2699.

AAA NAID certified icon

We are NAID AAA Certified Since 2007​

This certification is recognized by regulatory organizations as the premier standard for integrity, security and compliance.

Contact TITAN For Your Quote Today

Contact TITAN® For Your Quote Today