Who’s responsible for the costs of credit card theft?

A recent article in Information Week briefly discusses last weeks reversal by a federal appeals court of a lower court’s order that credit card processor Fifth Third Bancorp did not have to pay for new credit cards for some cardholders whose data was stolen during a 2004 hacking incident at BJ’s Wholesale Club.  The suit was originally brought by the Pennsylvania State Employees Credit Union. Essentially it goes like this.  In 2004 BJ’s Wholesale... [Read More...]