No it asbolutely is not pro-consumer. It's reducing their liability not in anyway helping consumers prevent fraud. I frankly abhor that you even said so as its

No it asbolutely is not pro-consumer. It's reducing their liability not in anyway helping consumers prevent fraud. I frankly abhor that you even said so as its this sort of ill thought complacency that allows organizations to continue this behavior. What they should do is eat the cost of fraud or invent better fraud detection.