Debit and Credit Card Transactions

News & Analysis as of

Third Circuit Slams The Door On Coverage For The Cost of Defending Excluded Claims—Then Leaves It Wide Open

An insured corporation settles a class action, and a portion of the settlement pays the plaintiffs’ attorneys. Payments to the class are excluded from coverage under the terms of the corporation’s liability policy. But can...more

Defining the Contours of Cyber Coverage for Data Breach: a Warning in Arizona

A year ago in this space, we looked at the receding wave of coverage litigation regarding whether various cyber-related exposures were covered under traditional policies, such as CGL and professional liability policies. ...more

ACH Debit Transactions – Whose Agent Are You?

Tucked away in a seeming innocuous paragraph in a complaint, the Consumer Financial Protection Bureau (CFPB) has asserted an extraordinary and potentially far-reaching expansion of its authority. On June 6, 2016, the...more

Does Your Company Have Coverage for PCI Fines & Penalties in its Cyber Policy?

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

Your daily dose of financial news - The Brief – 6.16.16

As expected, the Fed announced yesterday that it was holding current interest rates steady and would be slow to push rates up while the economy tiptoes toward stability. Much more from Chair Yellen and economists’ reaction...more

Credit Card Issuers Cleared to Proceed Against Home Depot

Recently, a federal judge in Georgia ruled that the class action filed against Home Depot by the credit card companies could proceed. The judge stated that the card issuers’ allegations that Home Depot was negligent in its...more

UK Financial Regulatory Developments - May 2016 #16

Lloyd’s updates requirements for performance management - Lloyd’s has published a market bulletin to update its “Performance Management – Supplemental Requirements and Guidance”. It consolidates a number of existing...more

Noodles & Company alerts customers of credit card compromise

According to Noodles & Company (“Noodles”), it received information from Visa that Visa cards used by customers at its fast-food chains since January have “possibly” been compromised. It is presently investigating unusual...more

O’Charley’s diners warned of payment card data breach

Diners who used credit and debit cards at the Tennessee based O’Charley’s restaurants between March 18, 2016, and April 8, 2016, were notified by O’Charley’s of a data breach that affected its point of sale systems. Consumers...more

Vermont federal district court rules CFPA does not provide private right of action for alleged usurious loans; denies motion to...

A Vermont federal district court recently issued a decision ruling on the defendants’ motion to dismiss a class action involving allegations that an online tribal lending venture violated federal and state law because of...more

New Economic Opportunities with Cuba Present Financial Rewards Along with Associated Compliance Challenges

The opening of Cuba to greater commercial and financial activity offers many possibilities for U.S. financial institutions but, with those possibilities, comes a responsibility to meet the complex compliance challenges that...more

Your daily dose of financial news The Brief – 5.23.16

We’ve got numbers for Bayer’s unsolicited bid to buy Monsanto—a cash offer of $62 billion, representing a 37% premium on Monsanto’s May 9 closing price...more

ATM Skimmer pleads guilty in Rhode Island federal court

Skimming continues to be a problem for ATM machines and law enforcement continues to try to combat the problem. Skimming devices are attached to credit and debit card and ATM machines in order to intercept debit and credit...more

PCI DSS version 3.2 contains substantial changes for payment card processors and their service providers

In April, 2016, the Payment Card Industry Security Standards Council published a new version of the PCI Data Security Standard (PCI DSS).  PCI DSS Version 3.2 is intended to emphasize the importance of validating the...more

PCI DSS 3.2: It’s here, what does it mean for you?

The Payment Card Industry Security Standards Council (PCI SSC) has released a new version of its data security standard for the protection of cardholder data, the Payment Card Industry Data Security Standard (PCI DSS). PCI...more

Seventh Circuit Allows Data Breach Suit To Proceed Against P.F. Chang’s

On Thursday, April 14, 2016, the United States Court of Appeals for the Seventh Circuit reversed a lower court’s ruling and held that customers suing P.F. Chang’s China Bistro Inc. did have standing to sue for...more

NACHA Issues Amendments to Operating Rules on Same-Day ACH Payments, Unauthorized Entry Fees and Disclosures for POS Entries

The NACHA, The Electronic Payments Association (“NACHA”) has adopted several amendments to its Operating Rules and Guidelines (“NACHA Rules”) that could significantly impact the operations of financial institutions....more

Trump Hotels investigating second credit card breach

KrebsOnSecurity has reported that sources from the banking industry have advised of a pattern of fraud on credit cards used at Trump Hotel Collection (Trump) properties. Trump has confirmed that it is investigating the...more

How to Draft an Effective Incident Response Plan

The best way to handle any emergency is to be prepared. When it comes to data breaches, incident response plans are the first step organizations take to prepare. Furthermore, many organizations are required to maintain one....more

Are You Adequately Protected by Your Cybersecurity Insurance? The Sky is the Sub-Limit

For businesses and nonprofit organizations searching for cyber insurance, it is important to know if your coverage limits are adequate. Whether you are in the market for a new policy or renewing an existing one, you should...more

Payments regulations in flux - Recent changes in Hong Kong, China and Singapore

WHAT'S GOING ON IN HONG KONG STORED VALUE FACILITIES AND RETAIL PAYMENT SYSTEMS The new regulatory regime for Stored Value Facilities ("SVF") and Retail Payment Systems ("RPS") in Hong Kong under the Payment Systems...more

Fifth Circuit Rejects Constitutional Challenge to Texas "No Credit Card Surcharge" Law

A Texas law that prohibits merchants from imposing a surcharge on credit card purchases, but allows a discount for cash purchases, does not violate the First Amendment of the U.S. Constitution, a divided panel of the U.S....more

Casino Owner Sues Cybersecurity Services Provider, Alleging Botched Response to Data Breach

On December 24, 2015, Nevada casino owner Affinity Gaming filed suit against Trustwave in federal district court, alleging that Trustwave failed to contain and remediate a data breach at Affinity Gaming. ...more

PCI DSS – What It Is and Why It Is Relevant to Your Business

Increasingly, companies are raising questions about PCI-DSS and its applicability to their businesses. This Legal Alert summarizes the basic aspects of PCI-DSS and its application....more

CFPB Compliance Bulletin Outlines Requirements for Automatic Debit Authorization

On November 23, 2015, the Consumer Financial Protection Bureau (CFPB) issued a Compliance Bulletin reminding covered entities of their obligations under the Electronic Fund Transfer Act (EFTA) and Regulation E to obtain...more

113 Results
|
View per page
Page: of 5
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×