Detailed text transcripts for TV channel - FOXNEWS - 20140119:04:19:00
Losses to the system. banks and retailers, $180,000 billion. >> $2 billion to fix it. spend $180 billion. that makes one wonder why don't we go ahead and go to a better system? >> i wish i could answer the question. i've don't have a good answer for that. i asked retailers. i've asked bankers. they're just not ready to pony up the dough. there is a rule that is coming to effect in another year in 2015. supposed to upgrade. but it's not a federal law. not a legal requirement. a promise to upgrade these cards. this incident could be the tipping point now. that forces these issuers to start upgra...
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