UNDATED - Starting today (Thursday) there's new rules for credit and debit card transactions in the United States. Any retailer or business without a reader for the new 'chip-embedded' cards will be liable for fraud committed on a transaction.

George Meinz is a lawyer at Gray Plant Mooty in St. Cloud. He says a lot of small businesses have chosen to not invest in the new credit card readers.

The cost of changing over to the new card reader is not cheap for a small merchant. So, at least at this point, it seems a lot of small merchants are deciding that they're just going to wait it out a bit and see what happens.

Meanwhile, card issuers that have not sent their customers a new chip-embedded card will be liable for counterfeit card fraud. Meinz says he expects that you'll be receiving your new credit and debit cards by the end of the year, if you haven't already.

In the meantime, your old cards will work in the new readers - and your new cards will work in old readers.