Find /includes/languages/english/email_extras.php and in about line 27 and line 38 you should find this;
Code:
define('EMAIL_SPAM_DISCLAIMER','This e-mail is sent in accordance with the US CAN-SPAM Law in effect 01/01/2004. Removal requests can be sent to this address and will be honored and respected.');
I have highlighted in red the single quotes that are the general reason that the define is displayed over the actual desired text...check yours or the copy in your template folder if you have overriden this for these REQUIRED set of quotes.
You can also alter the text as is the case for other items if this kind