Prof. Prentiss Cox ’90 Quoted in WalletHub on Preventing Credit Card Fraud

Professor Prentiss Cox ’90 was Interviewed by WalletHub about credit card fraud and ways to prevent it. While credit card fraud overall costs hundreds of billions of dollars each year, Prof. Cox said individuals need not be overly concerned about a stranger obtaining one’s personal credit card and using it to buy things without authorization. He said, “Federal law limits your liability to $50, and most credit card companies won’t even charge you the $50. We have socialized the risk of credit card fraud, with the burden in most cases ultimately falling on the merchant who accepts the stolen card.”