Elizabeth Warren actually said...

"I understand that Europe had reasons to go to chip early on, but are you saying that the banks have just now discovered that chip and PIN would be a more secure system?"

"It sounds like to me, Mr. Chairman, that the banks have delayed, the retailers have delayed, the Government has delayed, and the ones who have paid the price are the consumers whose data are being sto..."

"it sounds like to me we may need some pressure from the Government to make sure that the toughest standards are used."

"We understand why chip and PIN works better, and it seems that we are years behind Europe in developing adequate technology."