Debit and Credit Card Transactions

News & Analysis as of

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

Michael’s Stores class action data breach case dismissed

Michael’s Stores, Inc. was dismissed from a putative data breach class action case involving the breach of 2.6 million payment cards as the plaintiffs were unable to show that they were injured as a result of the incident....more

Hyatt Corporation notifies customers of “malware activity”

Hyatt Corporation announced on December 23, 2015, that it recently identified malware on computers that operate its payment processing systems. It stated that as soon as the activity was discovered, an investigation was...more

Setting Up Shop in the UK? Don’t Overlook Your Card Payment Services

What are the specific card payment regulations that a merchant operating in the UK must follow? RC: The PCI DSS Compliance Standards are the key ones in respect of card payments and are enforced by the card brands...more

EBA consults on payment card schemes draft RTS

EBA is consulting on its draft regulatory technical standards (RTS) on the separation of payment card schemes and processing entities under Article 7(6) of the Interchange Fee Regulation (IFR). ...more

PSR issues provisional determination on card schemes exempt from IFR cap

PSR has published its provisional determination on the extent to which any UK three-party card schemes qualify for a temporary exemption under the IFR. PSR based this determination on information from firms on UK domestic...more

EPC updates SEPA cards standardisation volume

EPC and the Cards Stakeholders Group (CSG) have updated the Single Euro Payments Area (SEPA) cards standardisation volume. It contains a standard set of requirements to ensure an interoperable and scalable card and terminal...more

CFPB Reports on Effect of the CARD Act

On December 3, the CFPB published a report summarizing the impact of the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) on consumers and the credit market. According to the report, access to credit...more

State Attorneys General Fire Shot Across the Bow at Major Payment Card Brands Over “Chip and PIN” Technology

For well over a decade, U.S. regulators have been taking enforcement action against merchants and payment processors that, in the regulators’ view, failed to take “reasonable and appropriate” steps to secure payment card...more

Hilton Hotels acknowledges payment card breach

Hilton Worldwide has issued a statement that it has “identified and taken action to eradicate unauthorized malware that targeted payment card information in some point-of-sale systems.” The information exposed included...more

Weekly Privacy Tip #12 – Credit card safety during the holidays (use cash!)

‘Tis the season of shopping. Cyber-Monday has just passed and news flashes indicate that the total amount consumers purchased online on Monday will exceed $3 billion. Wow. All with credit cards....more

Starwood Hotels hit with payment card malware attack

Last Friday (November 20, 2015), Starwood Hotels announced that it was hit with a payment card malware attack affecting 50 of its North American hotels. The president of Starwood Hotels Americas stated in a letter to...more

State AGs Urge Card Companies to Advance Consumer Protection by Implementing Chip and PIN Technology

On November 16, nine state attorneys general sent a letter urging leading card brands to expedite the implementation of chip and PIN technology in the United States. The letter summarizes research connected to recent data...more

Retailers: Beware of Pitfalls in Your Card Payment Function

What card payment rules must a retailer operating in the United States follow? MS: When a merchant uses, transmits, stores or outsources the credit card function, it is subject to a number of rules in the U.S.,...more

What Knowledge Of A Potential Cause Of Action Starts The Limitation Clock Running?

Even where a claim is evidentially weak, and the relevant law complex, the limitation period starts as soon as a claimant has enough facts to make its cause of action complete. Under s32 Limitation Act 1980 (the Act), if a...more

Florida “No Credit Card Surcharge” Law Unconstitutional, 11th Circuit Rules

A Florida law that prohibits merchants from imposing a surcharge on credit card purchases but allows a discount for cash purchases violates the First Amendment, a divided panel of the U.S. Court of Appeals for the 11th...more

Treasury publishes card fees response

Treasury has published the government’s final approach to implementing the Interchange Fee Regulation, following its consultation on rules to cap the fees charged by banks to their business customers for processing credit and...more

A Shift in Liability for Credit Card Fraud

For too long, “swiping” a credit card has had at least one meaning too many. There was “swiping” as it pertains to running the magnetic strip of your credit card inside the groove of a small payment terminal to make an...more

Second Circuit Rejects Constitutional Challenge to New York “No Credit Card Surcharge” Law

A New York state law that prohibits merchants from imposing a surcharge on credit card purchases does not violate the First Amendment or the Due Process Clause, the U.S. Court of Appeals for the Second Circuit recently ruled....more

Risky Business – Five Facts You Should Know About the EMV Liability Shift

On October 1, 2015 the major payment card companies instituted the EMV Liability Shift in an effort to incentivize card issuers and merchants to migrate to using payment cards with embedded chips (“chip cards”) according to...more

Digital Insights & Trends: Embracing EMV Technology for Fraud Reduction and Loss Prevention

October 2015 represents a significant milepost in the migration of U.S. payments products to EMV chip technology. It also serves as a useful evaluation point as to what the technology achieves and where it falls short. By...more

Georgia Court Sheds Light on CFPB’s Power to Sue Companies that ‘Recklessly Provide Substantial Assistance’

On September 1, 2015, the Consumer Financial Protection Bureau (“CFPB”) won an important decision in which a federal court, for the first time, interpreted the meaning of “recklessly provid[ing] substantial assistance” under...more

Third Circuit Decides that “Publication” Doesn’t Include the Collection of Customer Data

On September 15, 2015, the Third Circuit Court of Appeals declared that Lamorak Insurance Company (formerly OneBeacon America Insurance Company) and the Hanover Insurance Group don’t have to defend their insureds, Urban...more

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