CNET reports on a Massachusetts bill that would let credit card issuers (mostly banks) shift more of their costs to e-commerce retailers if data security breaches occur. Credit card issuers and retailers have built a tremendous business by working together to serve consumers. Their success is the result of negotiated contracts that allocate costs and responsibilities. But the bankers pushing this bill are apparently giving up on cooperation to pursue litigation and legislation. Not a good sign.
Posted 02/24/2007 | Articles