Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast
Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
CFPB’s Increasingly Active Interest in Credit Reporting - FCRA Focus Podcast
Report on Supply Chain Compliance 3, no. 16 (August 20, 2020) - The Office of the Comptroller of the Currency fined Capital One USD 80 million for inadequate data controls leading to a 2019 data breach and for failing to fix...more
Despite some courts’ evident confusion about the impact of payment card theft on consumer cardholders, other courts are getting it right. Just this week, a judge in the Northern District of Illinois issued an order dismissing...more
Australia's Data Breach Bill amends the Privacy Act 1988 (Cth) ("Privacy Act") and requires private and public organisations regulated by the Privacy Act to notify affected individuals and the Australian Information...more
On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more
Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...more
Wendy’s suffered a data breach in the fall of 2015 that it recently reported affected one particular point of sale system at fewer than 300 restaurants. Wendy’s has already been sued as a result of the incident, including a...more
Today, Target and a class of banks that issued credit cards that were compromised in the Target data breach announced they have reached a $39.4 million settlement. Up to $20,250,000 of the settlement will go to a...more
Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more
Visa, Inc. announced on August 18th that it has reached a settlement with Target for $67 million to reimburse Visa for costs associated with the Target data breach in late 2013, including issuing millions of new cards to...more
On October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases will shift from credit card issuers, such as banks or credit unions, to retail merchants. Credit card...more
Senior U.S. District Court Judge Paul Magnuson issued an order on Thursday, May 7 denying a request by counsel for card issuer banks to enjoin the settlement of data breach related claims negotiated between Target and...more
In 2014, grocers and restaurants continued to be plagued by attacks leading to the theft of credit card information. Among others, Supervalu Inc. and Jimmy John’s both experienced intrusions in 2014, extending the string of...more
Federal District Judge Paul Magnuson has ruled that banks that issued credit and debit cards to customers whose data was stolen in the December 2013 Target data breach could continue to litigate claims against Target for...more
Who should be responsible for paying for the costs of data breaches? - Reacting to the recent high-profile security lapses at major retailers, California lawmakers are considering a bill that would shift the burden of...more