Half of all payment cards in the United States now have chips, an EMV expert told CUNA member credit unions during a free webinar Thursday, which outlined the current chip card climate and had more than 330 attendees.
CUNA will host a webinar on recent changes to EMV, the technological standard for chip credit and debit cards, Sept. 22 at 1 p.m. (CT). The webinar will be led by one of the participants in EMVCo, the consortium that manages the technology.
Major card networks have announced changes to their chargeback policies, with the changes becoming effective in the coming weeks. The changes come as a result of complaints of ballooning chargebacks stemming from EMV migration.
Only 38% of CUs anticipated their credit card program to comply by the EMV liability shift, according to CUNA’s 2015 Credit Card Survey, and 36% of CUs didn’t expect full EMV functionality until at least the end of 2016.
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.
The NCUA’s Tuesday announcement that it will repay the U.S. Treasury in full is a good sign for credit unions, said CUNA Chief Policy Officer Bill Hampel. The agency will repay the $1 billion outstanding balance before Oct. 31.
CUNA’s Strategic Communications Department teamed up with The Wall Street Journal this week on an infographic illustrating the differences between credit unions and banks. The graphic ran in print today, on International Credit Union Day.