Avivah Litan

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Archives for August, 2011


The next big Subprime Mortgage Ripoff – can we spare another $15 billion?

by Avivah Litan  |  August 10, 2011  |  Comments Off

Home lenders and banks are losing between $7.5 billion and $15 billion in fraud from seemingly-deplorable subprime mortgage activities that get the wrong people rich quick. It just doesn’t quit – fraud on the way into the subprime crisis, and now fraud as we try to dig our way slowly out. The techniques are essentially [...]

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Second Thoughts about Visa’s EMV program

by Avivah Litan  |  August 9, 2011  |  4 Comments

Visa’s announcement of a move to the EMV standard in the U.S. is both welcome and long overdue and should eventually lead to a substantial reduction in counterfeit plastic card fraud. With the U.S. – the last major market EMV holdout – finally onboard, it will also enable the eventual death of the Achilles Heel [...]

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Visa finally moves U.S. closer to Chip cards and NFC acceptance; but are merchants getting the short end again?

by Avivah Litan  |  August 9, 2011  |  Comments Off

Visa finally took the plunge and issued a plan to move U.S. plastic (contact) and mobile (contactless) Visa payments to the EMV standard today. They cleverly bundled incentives for merchants and card issuers to adopt the standard for both contact and contactless payments, unlike the programs they have rolled out for chip in other countries. [...]

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