This title outlines the administrative processes to be followed, including requirements for self-evaluation and planning; requirements for making reasonable modifications to policies, practices, and procedures where necessary to avoid discrimination; architectural barriers to be identified; and the need for effective communication with people with hearing, vision and speech disabilities. This title is regulated and enforced by the U.S. Department of Justice.
Level AA is a little more significant, and makes sites accessible to people with a wider range of disabilities, including the most common barriers to use. It won't impact the look and feel of the site as much as Level AAA compliance, though it does include guidance on color contrast and error identification. Most businesses should be aiming for Level AA conformity, and it appears to reflect the level of accessibility the DOJ expects. 
Distinguishable: To assist color-blind users and those with other visual impairments, color is never used as the sole means of conveying information or prompting the user. Audio lasting more than 3 seconds can be paused, or the volume can be controlled independently of the system volume. Regular text has a contrast ratio of at least 4.5:1, and large text has a contrast ratio of at least 3:1. In addition, text can be resized up to 200 percent without causing issues with the website.

You may file a charge of discrimination on the basis of disability by contacting any EEOC field office, located in cities throughout the United States. If you have been discriminated against, you are entitled to a remedy that will place you in the position you would have been in if the discrimination had never occurred. You may be entitled to hiring, promotion, reinstatement, back pay, or reasonable accommodation, including reassignment. You may also be entitled to attorneys fees.


UPDATE: Since writing this post in August 2017, several important changes have taken place in the laws regarding ADA compliance for websites. On December 26, 2017, the Department of Justice announced that they have withdrawn the Obama-era Advance Notice of Proposed Rulemaking mentioned in this article which intended to require ADA website compliance. The DOJ’s withdrawal announcement stated, “The Department will continue to assess whether specific technical standards are necessary and appropriate to assist covered entities with complying with the ADA.”
Until the ADA is updated to address the special case of website accessibility, or the Department of Justice releases its website accessibility regulations, complying with WCAG 2.0 Level AA is the best way to ensure that people with disabilities have equal access to your website. The overview below is a great starting point about meeting the WCAG 2.0 Level AA recommendations.

Technology is changing, and many website designers are using creative and innovative ways to present web-based materials. These changes may involve new and different access problems and solutions for people with disabilities. This Chapter discusses just a few of the most common ways in which websites can pose barriers to access for people with disabilities. By using the resources listed at the end of this Chapter, you can learn to identify and address other barriers.
Since enforcement of the act began in July 1992, it has quickly become a major component of employment law. The ADA allows private plaintiffs to receive only injunctive relief (a court order requiring the public accommodation to remedy violations of the accessibility regulations) and attorneys' fees, and does not provide monetary rewards to private plaintiffs who sue non-compliant businesses. Unless a state law, such as the California Unruh Civil Rights Act,[55] provides for monetary damages to private plaintiffs, persons with disabilities do not obtain direct financial benefits from suing businesses that violate the ADA.
A. If you think you will need a reasonable accommodation in order to participate in the application process or to perform essential job functions, you should inform the employer that an accommodation will be needed. Employers are required to provide reasonable accommodation only for the physical or mental limitations of a qualified individual with a disability of which they are aware. Generally, it is the responsibility of the employee to inform the employer that an accommodation is needed.
UPDATE: Since writing this post in August 2017, several important changes have taken place in the laws regarding ADA compliance for websites. On December 26, 2017, the Department of Justice announced that they have withdrawn the Obama-era Advance Notice of Proposed Rulemaking mentioned in this article which intended to require ADA website compliance. The DOJ’s withdrawal announcement stated, “The Department will continue to assess whether specific technical standards are necessary and appropriate to assist covered entities with complying with the ADA.”

Error prevention on important forms (3.3.4): For pages that create legal commitments or financial transactions or any other important data submissions, one of the following is true: 1) submissions are reversible, 2) the user has an opportunity to correct errors, and 3) confirmation is available that allows an opportunity to review and correct before submission.

While legal considerations might be your biggest worry, making your site more accessible is simply good customer service. More than 39 million Americans are blind and another 246 million have "low vision," Another one million are deaf in the U.S. Add to that people with mobility issues that prevent them from using their hands and that's a huge portion of the country's buying power.
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