THE 'tude

Each year since 2013, the Federal Reserve Board has spearheaded a survey designed to monitor the financial and economic status of American consumers.

There are many definitions of the word “legend,” but the one I believe fits the individual I am about to describe is “famous or important person who is known for doing something extremely well.”

On a near daily basis I receive an email or a LinkedIn update about some credit union’s new CEO, and each one comes complete with the shiny new hire’s credentials, including a school classroom-like alphabet after their names just to make clear how qualified they are for the job, the CCUEs and CCEs and MBAs and CPAs and the like.

As we near the first anniversary of the October 2015 EMV liability shift, in which liability for card present fraudulent transactions shifted to the merchants that have failed to convert to EMV, we have solid analytics to assess its impact.