CUNA Mutual Group Risk Alert: VISA’s Lift on Chargeback Limits Expected to Help CUs

On April 15, 2018, VISA lifted limits on U.S. counterfeit fraud chargebacks less than $25. In addition, card issuers are no longer limited to 10 chargebacks per account for fraudulent counterfeit transactions. This change should help credit unions that were previously responsible for losses even though they had implemented EMV on cards and the merchant had not.

Access to plastic card loss data from across the credit union industry can be essential in assisting you to better understand your level of risk and the effectiveness of your mitigation efforts. Help establish a baseline by participating in the 2018 Plastic Card Loss Benchmarking Survey. Simply access the High-Level or In-Depth version, depending on the level of data you’d like to receive in return.

View the full risk alert here.