It is just lobbying preventing good policy. If we moved to chip + pin, we'd get rid of almost 100% of CC fraud. But retailers don't want the friction so instead the consumer pays for the fraud instead.
Why do you think this requires a government mandate? What evidence do you have of counter-lobbying as opposed to simple consumer and retailer preference?
> Why do you think this requires a government mandate?
It's a classic tragedy of the commons situation (inverted, like the economics textbook example of a lighthouse), to which government intervention is the classic solution. Fraud prevention benefits everyone, but any individual actor is better off skipping the fraud checks.
