President Obama Signs Executive Order on Credit Card Security
Friday, October 17, 2014
Posted by: Mike Rose
On Friday, October 17, President Barack Obama signed an executive order on identity theft and payment security.
As part of the order, chip and PIN cards will become the standard for newly issued and existing government credit cards, as well as debit cards like Direct Express.
The order will also require any federal agency that processes consumer sales to replace any prior-generation card retail payment terminals to those with new chip and PIN security features.
To read a full press release on the executive order from the White House, click here.