Re: Unnamed Acquirer Processor Breach Timeline, some additional confirmation

[Chris Walsh <chris () cwalsh org>]

That's an interesting conjecture.

If I was a bank, I would want people to mount up CC debt (as long as I
could eventually collect it, with interest!).  Unless some combination
of fraud and uncollectable debt grows hugely, I would expect banks to
strongly resist elimination of fraud protection.  The assumption is
that people will indeed move away from CCs if their potential
liability increases.  The existence of debit cards suggests this
assumption is of questionable validity, however.

cw



On Thu, Feb 26, 2009 at 8:42 AM, *Hobbit* <hobbit () avian org> wrote:
> What seems likely to happen along with all this and future disclosures,
> is lots of legalese flung about geared toward the credit outfits
> weaseling out of the $50 maximum customer liability.  If it hasn't
> happened already, I don't really follow the credit side of things.
> But you can bet your own bottom dollar that the "safety guarantee"
> I so often hear associated with plastic will be a thing of the
> past as the fraud picture gets worse.
>
> Maybe this will start to finally wean people *off* the damn things.
>
> _H*
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across your enterprise to ensure regulatory compliance.
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