Who loses? | RMBS Message Board Posts

RMBS   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  764451 of 767920  at  1/11/2017 2:11:51 PM  by

valuationguy


 In response to msg 764449 by  dfwl28
view thread

Re: Who loses?

My guess.... 
 
The end result is that the consumer will lose in the case of actual fraud but there is the outside possibility that interest rates on the card balances MIGHT decrease if overall instances of fraud decrease at the card issuer.
 
The card companies are only willing to absorb the fraud charges because they can't PROVE that the named cardholder is the person actually charging for the item.  As more security features are introduced to increase the reliability that every charge made is ONLY made by the authorized cardholder, the burden to prove the charge was NOT the consumer will ultimately be shifted to the consumer from the card company).   Actual loss of the physical card required for the authentication is not the fault of the issuer...but the customer and thus the liability should be the customer's.
 
The card companies wouldn't be pushing this out unless it saved them significant money....as the transition is going to be expensive in itself. 
 
VG 
 
 


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 2     Views: 114
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board

Replies
Msg # Subject Author Recs Date Posted
764474 Re: Who loses? dfwl28 1 1/12/2017 8:27:08 AM


About Us    Contact Us    Follow Us on Twitter    Members Directory    Help Center    Advertise
Not a member yet? What are you waiting for? Create Account
Want to contribute? Support InvestorVillage by donating
2003-2016 Investorvillage.com. All rights reserved. User Agreement
   
Financial Market Data provided by
.

Loading...