ABA Shares Pro-Innovation Message at Hill Event on Payment Security

At a Capitol Hill event on payment security technology yesterday, ABA SVP Bill Boger represented the financial services industry and emphasized the importance of innovation and dynamic technology in stopping card fraud.

Responding to other panelists who called for mandating a static technology — such as “chip and PIN,” Boger reinforced the core message of ABA’s “Let’s Innovate, Not Mandate” ad campaign, which is educating federal policymakers on how prescriptive mandates can freeze much-needed innovation.

Another panelist representing the White House and the National Economic Council spoke about the importance of all industries working together toward improved cybersecurity and specifically praised the contributions of the banking industry to the overall effort.