Tag Archives: data breaches

Ad Urges Retailers to Upgrade, Activate Card Terminals

ABA this week launched a new ad as part of its “Let’s Innovate. Not Mandate” campaign. The ad, running in Capitol Hill newspapers, notes that financial institutions are busy issuing new EMV/chip cards that eliminate counterfeit fraud, but that just 27 percent of businesses are equipped to accept the cards. “These retailers deserve credit for leading the way. But the ...

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Keating Op-Ed: Retailers Should Focus on Protecting Data

Retailers need to focus on protecting their customers’ data before it gets breached, ABA President and CEO Frank Keating said in an op-ed published today in The Hill. “Unfortunately, some retail trade groups have chosen to fixate on mandating PINs, a static technology that only addresses a small and steadily declining share of fraud, rather than addressing what caused the ...

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Consumer Survey: Retailers Should Improve Data Protection

An overwhelming majority — 94 percent — of consumers think retailers should take steps to better protect consumer data from hackers, according to an Ipsos Public Affairs survey conducted for ABA. Seventy percent say retailers should be installing EMV chip-enabled card readers as soon as possible. Nearly 80 percent of consumers think the government should hold all companies involved in ...

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Groups Push Back on Retailer ‘PIN’ Claims

ABA and other groups representing banks and credit unions in a letter Friday pushed back against retailer claims about the need for PINs to accompany new EMV, or “chip” cards. The letter was sent in response to questions raised at an Oct. 7 Small Business Committee hearing on EMV and in anticipation of the panel’s second hearing on the topic, ...

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Judge Grants Class Action Status to Issuers in Target Suit

A federal court in Minnesota yesterday granted class action status to a lawsuit by financial institutions against Target over the retailer’s 2013 data breach. Institutions eligible for the class include all U.S. issuers of payment cards compromised in the breach.

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