New payment cards, issued over the last year, come with a small square security chip that can help make in-person transactions more secure. However, retailers complain that they have spent billions of dollars upgrading their payment terminals to accommodate a system that cuts down on the fraud shouldered by banks, but not merchants.

Questions:
1. According to attorneys general mentioned in the article, what type of additional internal control should be added to the card procedure to make transactions more secure?
2. By October 1, what percentage of banks had complied with the new chip technology?
3. What are some of the fees and requirements mentioned in the article that support the notion that retailers are bearing a large part of the cost of fraud?

Source:
Abrams, R. (2015) Chip Credit Cards Give Retailers Another Grievance Against Banks. The New York Times, Nov. 17 (Retrievable online at http://www.nytimes.com/2015/11/17/business/chip-credit-cards-give-retailers-another-grievance-against-banks.html)