OK, so who is driving the EMV requirement? For the life of me, I cannot find who is actually requiring banks to do this other than it will be a market-driven requirement. I have to apologize for my ignorance, however credit cards have just come under my purview and I am trying to get up to speed.

I've read a lot of the interweb stuff, but none seem to give the origination point and governing body. Appreciate any help.

It isn't being required by anyone at this point, but the liability for fraudelent transactions is shifting and that is driving the push to issue/accept EMV.