What is this "shift of liabilities" of which you speak? When I used to accept credit card payments, if a customer complained of fraud (usually a lost card), the bank's first action was to yank the money back instantly out of my merchant account and tell me about it later. Even when I had paper to prove the customer was a lying sack of shit they never gave the money back, claiming that a few hundred dollars was "too small a transaction" to bother about.
On the other side of the coin, when someone on the other side of the world charged a plane ticket to one of my cards, the bank (hello, HSBC!) took 8 weeks to refund the transaction and then had the nerve to make me pay the merchant discount.
Bank liability? I don't even think they've heard of it.