<font face="Verdana, Arial, Helvetica" size="2">Originally posted by Kremmen:
The financial institutions make a fortune out of interest, exchange rates, merchant charges, etc, with a promise that customers will be safe from fraud. Now, if they are only willing to be part of the upside and not willing to compensate customers when a fraudulent business goes bust, who is being greedy?[/B]</font>
It is important to remember that the credit card companies are not refunding charges by taking the hit against their revenues just to be nice guys. They will refund customers if they can charge back the merchant. The merchant has to have pending charges or assets available to do this.