Credit card suit now seeks damages

TalkBack 1 of 22:

Next »

• Thread View
• Flat View

You've got to be kidding

Did I read the article right? Does it really say that the credit card companies will NOT notify the affected cardholders unless their accounts are actually abused?

As both a credit card user and a merchant accepting credit cards, I find this totally outrageous.

As a holder of a credit card account which was once compromised, I know that there is no financial risk to the cardholder. There is, however, significant misery involved in dealing with the fraudulent charges and cleaning up the account.

As a merchant accepting credit cards, I know that merchants, not the credit card issuers, accept the risk of fraudulent use of credit cards. When the credit card companies KNOW that the numbers are compromised and still allow the accounts to remain active, they are risking their merchant's money, not their own.

I usually abhor these types of lawsuits, but this one may actually be justified.

Posted by: vferrara   Posted on: 07/07/05 You are currently: a Guest | Members login | Terms of Use

Alert moderator to an offensive message

Subscribe to this discussion via Email or RSS

SponsoredWhite Papers, Webcasts, and Downloads

• Reducing Server Total Cost of Ownership with VMware Virtualization Software VMware VMware virtualization enables customers to reduce their server TCO and ... Download Now
• Five Steps to Determine When to Virtualize YourServers VMware Server virtualization isn't just for big companies. Entry-level ... Download Now
• Three Steps You Need to Know to Stop Data Loss Varonis Sensitive data exposed to misuse or loss... it is the stuff of nightmares ... Download Now