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An executive order signed by President Obama on Friday that mandated the adoption of chip-and-PIN technology in government cards and enabled its use in facilities like post offices smacks of politics over substance, analysts said.
October 17 -
The White House is slated to unveil a major package of initiatives on Friday to increase data security for financial transactions, including an executive order to add chip-and-PIN technology to government-issued credit and debit cards.
October 17
WASHINGTON President Obama may be one of the most powerful men in the world, but he's not immune from the frustrations of having a credit card declined.
He told attendees at the Consumer Financial Protection Bureau on Friday that he'd recently had trouble with his personal card while dining out in New York last month.
"It turned out I guess I don't use it enough. So they thought there was some fraud going on," he said.
Obama was at the consumer agency to sign a new executive order beefing up cybersecurity measures within the federal government including a mandate to add chip-and-PIN technology to government-issued credit and debit cards.
Fortunately for the president, his wife Michelle had her card on hand.
"And I was trying to explain to the waitress, no, I really think that I've been paying my bills," he quipped. "Even I'm affected by this."
