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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

A recent report from the Congressional Research Service (CRS) highlighted a number of factors that are delaying the transition to chip-and-PIN (EMV) cards before the credit card network imposed deadline of Oct. 1, 2015. The CRS predicted four factors would slow chip-and-PIN adoption in the U.S. – the high cost to implement compatible point-of-sale readers and the high costs to issue new cards, the relatively low adoption level to date, the decision by some credit card issuers to deploy chip-and-signature cards and not use an integrated PIN, and regulatory uncertainty. The report also highlighted that it is yet to be seen whether signature verification will be as effective at reducing card present fraud as PIN verification. A copy of the full report is available here .

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