@patio11 I would like to hear what you think will happen as a result of the Visa & Mastercard settlement announced this week. What kinds of businesses will refuse to accept premium credit cards? Will issuers cut back on rewards programs?
@IsaacKing314@rolanberrypie@patio11 But how to prevent a malicious actor from confirming/harvesting account holder names by entering random account numbers and canceling transactions before completing them? I am not sure a rate limiter would be a good enough solution.
@rolanberrypie@patio11 I doubt American banks would want to require name-matching if it meant they would have to spend a lot of time adjudicating minor spelling or punctuation mistakes. A payment intended for Andersens Landscaping LLC made out to “Anderson’s Landscapping, Inc.” is probably legit.
@patio11 Not quite following—do you mean this causes a situation where some assets are delivered via ACATS and the receiving broker has no idea to whom they belong? Or that they know which client, but are not sure if the assets go to your IRA vs. your taxable account?
@woodbo52 @WinsomeSears@winwithwinsome Maybe. Some Democrats voted for the final bill after the Lt. Gov. defeated the Sen. Surovell’s attempt to keep the definition out of the code.
@Rapunzal49@WinsomeSears Democratic Senator Surovell wanted to keep the definition out of the code. The Lt. Governor’s vote was in favor of adding the definition to the code. Her tweet was hard to parse so I don’t blame you for misunderstanding!
@patio11 - how (or whether) PayPal/Venmo can comply with IRS requirements to report transactions over $600 without needlessly enraging tons of innocent consumers
@patio11 Now that 10 years have passed, can you share the funny hypothetical story that you excised from that post because it was too close to reality?
@AdamMinter@DoctorSyntax Reminds me of how the security guards in Chinese banks are often more helpful than the tellers when it comes to procedures and filling out forms.