Basel III (updated capital rule) requires banks to maintain capital based in part on the riskiness of the assets in their portfolios. To the extent more capital is required to support a transaction, that transaction is likely...more
A short time ago, I stopped to pick up the family dry cleaning when an alert from a pharmaceutical retailer that noticed I was nearby popped up on my mobile phone. “Slide to activate your digital rewards card and come in for...more
The CFPB yesterday proposed a new rule that would regulate prepaid accounts. The rule, which is 870 pages long, would apply not only to plastic prepaid cards, but also to some mobile and electronic prepaid accounts not...more
We have been rather busy counseling banking clients who are trying to decide whether to participate as Issuers in the Apple Pay program. The card issuing financial institutions (“Issuers”) initially announced for immediate...more
For those who did not get to attend in June, this year’s American Bankers Association Regulatory & Compliance Conference brought together a couple of thousand attendees to hear from regulators, presenters and ABA staff and...more
Mobile payments technology is poised to create a globally dramatic shift in how individuals pay for goods and services, track spending, and manage personal finances. Mobile payments are also becoming big business for...more
Originally published in E-Finance & Payments Law & Policy - February 2013.
New payments companies need to be aware of the legal and compliance issues that are part of operating in two of the most heavily regulated US...more