A merchant is going to feel some pain from the FTC. Visa and MC are going to look bad for not talking about who this merchant is.
Jun. 8–Federal officials cannot disclose what national merchant or merchants were involved in a recent debit card security breach that spurred at least two local banks to reissue customers’ debit cards.
“FTC investigations are nonpublic with a narrow exception that would not be met in this case — when a company itself discloses that it is the subject of an investigation,” said Claudia Bourne Farrell, spokeswoman for the Federal Trade Commission in Washington, D.C.
In this case, the company has not disclosed it, she explained.
Sounds like Claudia Farrell of the FTC confirmed that there is an investigation of a merchant.
Instances such as this are the “really big and bad” breaches I referred to yesterday. When Congress closes this loophole, fur will fly.