and then we have alan ritchie, executive vice president, chief legal officer and also the chief enterprise officer for visa and she is responsible for the compliance audit and risk teams of the used credit card company. so, let's start. what does it mean when we keep -- first of all, who is paying when i see that home depot got 56 million cars for some other company. what is the damage? i don't quite get the significance. >> i can start. i don't work for home depot. what is happening is basically we are experiencing firsthand now in a public setting what comes this has been asked areas deemed were a dozen years or more. there is no company that hasn't been intruded, that has not had to deal with it. but in the past, i think most companies have dealt with it is kind of the price of doing business for a new sense and those times have changed. in 1995, there were 16 million of us online. today they are our 3 billion people online on the planet, 3 billion people online. so these acts are more public and more consequential. >> so you represent the retail association. what is the consequence of