Did you experience using your credit card then it was declined? President Barack Obama experienced the same last month when he and First Lady Michelle Obama dined in a classy restaurant in New York as he was visiting the United Nations.
"It turned out I guess I don't use it enough," Pres. Obama stated. "They thought there was some fraud going on."
"I was trying to explain to the waitress, No really, I think that I've, uh, been paying my bills. So even I'm affected by this," Obama continued.
Thanks to First Lady Michelle who's carrying hers so she had to pay the bill. Obama recalled the story as he signed a new anti-fraud order into law at the Consumer Financial Protection Bureau Friday. Chip and pin technology will be compulsory on all federal government debit and credit cards, the Huffington Post reported.
According to CBS news, employees at Estela where the couple dined on Sept. 24 couldn't give further information about the credit card issue. Epicurius captured the president's order and posted it on their Sept. 25 food blog. The first couple ate two orders of burrata with salsa verde, endive salad, tomatoes, and salt cod croquettes, the food blog states.
President Obama on Friday signed an executive order listing several steps that will strengthen the protection to Americans from identity theft and financial fraud, which is the fastest growing crime in the country.
The law also requires law enforcement agencies to submit credit and debit card information to Internet Fraud Alert System for cards that were allegedly compromised. Government agencies are mandated to introduce machines that can read new credit and debit cards embedded with microchip as well as a PIN code to authorize the transactions.
Beginning October 2015, chip and pin debit and credit cards will be launched across the US.
