NAFCU witness set to testify on EMV liability shift Wednesday
Jan Roche, president and CEO of State Department Federal Credit Union in Alexandria, Va., will testify on behalf of NAFCU Wednesday before the House Small Business Committee on the EMV transition and what it means for small businesses.
Roche will discuss the recent EMV liability shift and how credit unions are preparing for the upgraded chip cards and new payments structure. She will also discuss how the new technology needs to be adopted by all parties within the payments system to best prevent cyber and data attacks.
NAFCU has consistently urged for the establishment of a strong national data security standard for retailers that holds them responsible if they fail to protect consumer data.
The Oct. 7 hearing, “The EMV Deadline and What it Means for Small Businesses,” will also examine the implications of the EMV chip deadline for small businesses and the efforts they are making to be in compliance with financial service providers. Roche will testify alongside representatives from VISA and the Electronic Transactions Association.continue reading »