Daveoc64, zero liability is NOT why merchants don't get investigated. Zero liability is great for consumers, and hopefully it never goes away (banks have zero liability policies in Canada and the UK as well, probably elsewhere - the English speaking world at least). They don't get investigated because interchange is high enough for banks to not care. We need REASONABLE interchange capping (not nearly as low as Europe). But it needs couple with a federal no surcharge/no minimum law.

Remember Mastercard and Visa have ALREADY extended their zero liability policies in the US to cover PIN transactions. They're not, and shouldn't, go anywhere.

I don't think UNFCU will be the only chip-and-PIN card forever. I really don't. I bet Target launches as true chip-and-PIN and I bet Walmart and Sam's Club follow through with their promise to switch. American Express is likely to switch as well, they've publicly stated that they see chip-and-signature as a transition step. Barclay's seems likely to make the switch, too, given their travel focus and the fact they've been relatively open how their cards work - I bet they'll see the light.