Today, ACI filed comments with the Federal Reserve regarding its proposed changes to debit card interchange fees and routing options. ACI raised numerous concerns about the Federal Reserve proposal, including how the proposed changes would increase fraudulent debit transactions and reduce consumer benefits. The filed comments are available online.
President Obama recently signed an executive order that requires government-issued credit and debit cards to be equipped with new chip and PIN technology aimed at reducing fraud. Given the persistent rash of data breaches aimed at American consumers and businesses, the security measure was met with applause. But despite this progress, the vast majority of […]