Unbundling "doesn't make a lot of sense, " says Mallory Duncan, general counsel for National Retail Federation, an industry trade group.

WSJ: Banks Look to Replace Lost Debit-Card Fees

And yet remember it was Mallory Duncan of the National Retail Federation who was claiming that our worries about identity theft were overblown.

NPR: Identification Theft: The Growing Scam Industry

"All retailers pay too much, but small retailers pay much too much, " says Mallory Duncan, senior vice president and general counsel for the National Retail Federation in Washington, D.

WSJ: Bank Fees Squeeze Retailers

But Mallory Duncan, vice president of the National Retail Federation, says what many call identity theft really isn't when you look closely at the 10 million cases reported each year.

NPR: Identification Theft: The Growing Scam Industry

Mr. MALLORY DUNCAN (Vice President, National Retail Federation): The overwhelming majority of those are not true identity theft, the serious identity theft, but rather tend to be credit and bank fraud cases.

NPR: Identification Theft: The Growing Scam Industry