Credit card suit now seeks damages

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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

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