Data Security
Data Security
Breaches of sensitive consumer information at Target, Home Depot
and other retailers have made it clear that not
everyone connected to the card payments system adequately
protects the personal information of their customers. Data
breaches impose risks and costs on consumers, banks, the
payments networks and our economy and these gaps should be filled
as
soon as possible.
Why it Matters to Your Community
Protecting Consumers is Our First Priority
By law, regulation and the rules of the payments networks consumers have “zero liability” for unauthorized transactions – whether credit or debit card. Banks must swiftly reimburse customers, go beyond legal requirements to meet consumer needs, and are examined by regulatory agencies for compliance with legal requirements.
Fairer and More Effective Allocation of Breach Costs is Essential