Durbin asks FBI whether banking pressures led to revision of credit-card alert
U.S. Sen. Dick Durbin (D-IL) asked the Federal Bureau of Investigation (FBI) why it recently revised a consumer protection advisory on credit and debit smart card security technology.
The original FBI advisory, issued on Oct. 8, said new credit and debit cards that use microchip security technology are vulnerable to fraud. The FBI recommended that consumers use Identification Number (PIN) authentication, then the FBI issued a revised advisory on Oct. 13 that did not include the recommendation that merchants and consumers use PINs.
"The revisions to the FBI advisory raise significant questions about whether current EMV security technology is adequately protecting consumers and whether the FBI is taking appropriate steps to warn against and deter payment card fraud involving lost or stolen cards," Durbin said. "Did representatives of the American Bankers Association contact the FBI between the issuance of the October 8 advisory and the release of the revised advisory? If so, did the American Bankers Association request that the advisory’s recommendations for consumers and merchants to use PINs be removed?"
Durbin sent a letter to FBI, James Comey last week, requesting clarification of the FBI revisions. A response is expected by Nov. 15.
Organizations in this Story
230 S Dearborn St
Chicago, IL 60604