Citation[]
The White House, Executive Order, Improving the Security of Consumer Financial Transactions (Oct. 17, 2014) (full-text).
Overview[]
This Executive Order will require enhanced security features for government financial transactions, including chip-and-PIN technology which has greatly reduced financial fraud and identity crimes in Europe.
The Executive Order states that "the Government must further strengthen the security of consumer data and encourage the adoption of enhanced safeguards nationwide in a manner that protects privacy and confidentiality. . . ."