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Will private industry follow Obama's lead on credit-card security?
Will private industry follow Obama's lead on credit-card security?

The Obama administration did its part to speed the switch to more secure credit cards Friday when the president signed an executive order requiring government agencies to start switching to the next generation of cards by January. How much effect this move will have on private industry, though, depends on whether the administration allows the new cards to be accepted by merchants that don't upgrade their security too. Credit card fraud causes an estimated $5.5 billion in losses in the United States, thanks largely to antiquated cards that store their account and security information on a magnetic stripe. The rest of the developed world shifted long ago to cards with built-in...

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