Most of us have probably experienced the embarrassment of a declined credit card, for one reason or another. It’s good to know we are not alone. Recently, the President of the United States experienced a similar incident.
While signing an Executive Order at the Consumer Financial Protection Bureau, President Obama revealed that his credit card was recently rejected in New York City. Luckily, the First Lady came to the rescue.
The signed executive order directs the government to lead by example in securing transactions and sensitive data by implementing enhanced security measures for federal payments. These would include using microchips and PIN technology for federal credit cards.
Watch the incident as it was captured by C-SPAN.
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