Morning Scan: First Niagara Goes Chip-and-PIN; Student Loan Defaults...

Wall Street Journal With the EMV liability shift to merchants going into effect Thursday, First Niagara Financial Group is bucking expectations and will roll out chip-enabled credit and debit cards that require customers to use a personal identification number rather than a signature. In the lead up to the liability shift, the card industry has chosen chip-and-signature as its standard, despite concerns that having the chip alone does little to curb card fraud. In instituting chip-and-PINÂ...