|
Taustin,
I'm in Canada. We have 6 major banks & a few trust companies not like the US that has one for almost every county in every state making god knows how many 100's or 1000's of banks. And we're highly regulated. That's why we never failed or had to deal with the mortgage crisis that you guys did. And we have not been "sued out of existence" for not telling clients where their card was compromised.
Again, your first line of contact - the person at the bank or the person on the phone - does NOT see where your card was compromised. Period. End of story. We will see charges on the card yes. If you say you didn't make that charge, that's another story. If your card has been classed as compromised whether or not funds have been illegally taken, we do not see where that compromise has taken place.
I'm not going to cite you any law or regulation because I know you wouldn't believe me even if I did. So I'm not wasting my time. You go on believing what you want and have a merry life doing so. I know what I know to be true, some of which you're not even understanding of what I'm saying but you go on thinking you're right.
Oh and in Canada, if your bank or credit card is compromised and funds have been fraudulently taken, you're not responsible for a penny. Even if you lose your card. We don't charge you the $50 you say you get stuck paying.
Bilbo1967:
Yes the US still uses swipe & sign. Even with Canadian cards that have chip & pin & now the paywave/flash option. The US system does not use it.
|