Friday, September 23, 2005

Credit card companies head to court over disclosure obligation

According to Wired News, both Visa and Mastercard are planning to argue in a Cardsystems-related lawsuit that the card associations do not have an obligation to notify individuals of security and privacy incidents. If there is an obligation, it falls to the member banks who have the immediate relationship with the customers. Interesting question: Wired News: Card Companies Keep Theft Quiet.

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