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USAA |

Chip cards are the cards of the future.

Chip cards are credit and debit cards embedded with a microprocessor on the front and the traditional magnetic stripe on the back. They are also known as “chip”, “smart” or “EMV” (Europay, MasterCard® and Visa®) cards. Chip cards provide strong transaction security when used at a chip-enabled terminal. This added layer of security can help minimize cardholder impact when a data breach occurs. Chip technology is already used in over 130 countries around the world. It will become the standard in the U.S. as the number of retailers accepting chip cards is growing.
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Bank of America |

About chip cards

As chip technology will soon become the security standard in the U.S., many merchants are beginning to accept chip cards and we want you to be ready. You’ll enjoy greater security when making purchases at a chip-enabled terminal since the chip provides better protection against counterfeit fraud. Chip technology is already used in over 130 countries around the world, including Canada, Mexico and the United Kingdom, so you’ll enjoy greater acceptance when traveling internationally.
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Visa |

What’s an EMV chip card?

We all use our debit and credit cards for shopping, eating out and buying groceries. Soon you can do so with the added security benefits of an EMV chip card. The new cards are nearly impossible to counterfeit, and travel will be even easier in more than 130 countries where chip cards are already used. EMV chip cards do everything magnetic stripe cards do but even more securely; plus, you are still protected from fraud by Visa’s Zero Liability policy.*
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MasterCard |

Safety and Security

We know that safety and security are top priorities for our issuers, your customers, merchants and others. That’s why we won’t stand still in developing new and better ways to keep payments safe. As technology advances, devices change and payment methods adapt, we continually innovate to ensure the safety of billions of electronic payments wherever and whenever they occur. We are securing the entire payments ecosystem with EMV, end-to-end encryption, tokenization and authentication.
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MasterCard |

A new era of payments and security

Today’s tech-savvy consumers are quickly adapting to digital devices, turning them into powerful payment vehicles. At the same time, the safety and security of these transactions is paramount. The EMV standard serves as the backbone for future payment technologies by enabling safer, smarter and more secure transactions across cards, contactless, mobile and remote payment channels. For 15 years, MasterCard has played a leading role in the creation, management and continued development of the EMV standard. We offer a unique set of EMV solutions to help issuers and merchants implement new payment solutions quickly.
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The Dodd-Frank Act Five Years Later: Are we More Stable?

This congressional testimony summarizes the effects on consumers and the economy of Dodd-Frank, the Durbin Amendment the Consumer Financial Protection Bureau, and other government regulations (such as the CARD Act of 2009) enacted in the wake of the recent financial crisis. The testimony notes that the combined effect of these laws and regulations has resulted in higher bank fees, a dramatic reduction in access to free checking, an increase in the number of unbanked consumers, a dramatic reduction in access to credit cards for low-income consumers, and continued low access to mortgages, especially among lower-income and higher-risk borrowers. In addition, because of the crushing and disproportionate burden of Dodd-Frank’s regulations on smaller banks, the law has promoted consolidation of the banking industry and forced many smaller banks to exit certain product markets, especially mortgages. This combined effect has reduced choice and competition for consumers. Finally, the lack of democratic accountability over the CFPB has resulted in an agency defined by bureaucratic overreach, resulting in an invasive and reckless data-mining project and assertion over many industries and products that stand outside of the agency’s authorized jurisdiction.
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