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Originally Posted by $5 submissions
Given the current scrutiny banks/lending institutions are receiving on their operations and practices, what is the likelihood that Visa and Mastercard would modify automatic rebills? Many other businesses, besides adult and online content/services sites, depend on automated rebills. Would there be legal grounds to challenge such a move if it does happen?
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I don't think so, although this was a concern for many banking institutions for several years. However, they couldn't find a reasonable solution to protect their customers on both sides of the fence. This being said, I expect some kind of change in CC policies in the short/medium term, probably by 2010, I don't think 2009 is a good year to take any kind of measure that could lead to even more financial panic