In a column for The Hill, the National Association of Federal Credit Unions’ Katie Marisic argues that merchants should be held to the same standards as financial institutions. Marisic offers three suggestions to help ease “the burden of data breaches” on consumers: national standards for data privacy; notification and disclosure standards, and limits on consumer liability. With recent breaches hitting retailers, “credit unions were the ones who monitored … their members’ accounts for possible fraudulent charges; who reimbursed consumers whose accounts were compromised, and who replaced thousands of debit and credit cards,” she wrote, adding, “It is time for the government to step in and hold merchants that accept electronic payment transactions to the same standards that they hold financial institutions.”
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