legal issues with chips in credit cards

been looking everywhere on the web about this and can find nothing really and was wondering if anyone here has some info.
my question is about legal issues on credit card chips, the kind of credit cards not the whole thing but just the gold chip on them is the only thing I will take from people by breaking it off in front of them and having them dispose of the rest but what I was wondering is about legal issues of the info on these chips. i mean there is not alot from info I am finding on the web.
still the idea of anything with pin or that type of info on it and such things is always something to think about before selling anything like it that could be trouble. so before I continue this I wanted to get any info I can but companies are no help as no one gets backs to me.
I mean simply breaking these in half should do the job I think but wanted to ask and make sure for anyone who knows and thanks

Just take a H.D. magnet and wipe them, problem solved. You read about this "problem" all the time, accidentally wiping out your new credit card on a magnetic field. Build a small electromagnet and that should do it.