In the late '90s when it happened to me, this wasn't even invented yet. In the US today, 2nd-factor is not widely used at all. Not once I have I been challenged by a 2nd-factor, and if I were to be, I'd have no idea what to do with it.

If you were purchasing online then it will tell you to refer to your banking app. If it's in perso , them asking for a pin is pretty straightforward.

So who is pushing back against this? The networks already have it in place everywhere else, and since it's part of the transaction process there isn't a lot for stores or websites to do.

In the US, entering a PIN at the terminal is only prompted for debit cards, not credit, and even then you can usually opt to run the debit card as if it were a credit card and just scribble a fake signature.

But that's a low hurdle to resolve.

The Fed should be able to phase in requirements. They've had decades so far.