Debit and Credit Card Transactions

News & Analysis as of

How can you avoid identity theft?

Getting charged for $1000 worth of electronics that you didn’t buy. Seeing your credit score plummet for seemingly no reason. These types of scenarios are potential nightmares for most of us, but they seem unlikely...more

Digital Commerce & Payments Update

In this Issue: - Insights & Trends ..The Future of Regulation in the Digital Economy - Virtual Currency ..GAO Urges CFPB Participation In Virtual Currency Working Groups ..Trade Group White Paper...more

Risk of Data Breaches Keeping You Up? Assess Data Security Before The Holiday Season

Data security breaches marred the 2013 holiday season for many consumers and retailers. The most famous security breach, at Target Corporation (Target), involved the loss of information on 40 million payment cards and...more

2014 Verizon Report Offers Advice For Combatting Nine Common Threats To Cybersecurity

The 2014 Verizon Data Breach Investigations Report (DBIR) was released on April 22, providing the deep empirical analysis of cybersecurity incidents we’ve come to expect from this annual report. The primary messages of this...more

Privacy Monday: Cinco de Mayo, 2014

Happy Cinco de Mayo! Breaking news this Privacy Monday: The fallout from the massive Target Corporation data breach continues. This morning, the Target board announced that Chief Executive Officer Gregg Steinhafel...more

Target lessons: Network security, human element are factors in protecting data

Caught off guard by the very public outing in December 2013 of a data breach compromising the credit and debit card numbers of 40 million of its customers and affecting the personal information of 70 million more, Target...more

California Considers Data Breach Bill Imposing Significant New Obligations on Businesses

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

Privacy & Security Bits and Bytes

There has been so much news swirling in the data privacy and security world in the last few days, that it has been difficult to keep up. We’ll give you a roundup here....more

Many Lessons for Companies to Learn After the Target Data Breach

The red bull’s-eye. Even shoppers that don’t frequent Target know the retailer’s ubiquitous logo. But what many holiday shoppers — both loyal Target customers and casual visitors to the trendy discount store — didn’t...more

U.S. Court of Appeals Rules in Favor of Durbin Amendment Rules

On March 21, 2014, in NACS, et. al. v. Board of Governors of the Federal Reserve System, the U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of the Federal Reserve’s interpretation of the Durbin...more

D.C. District Court Finds Fed Interchange Rules Are Invalid

On July 31, 2013, the U.S. District Court for the District of Columbia (“District Court”) issued a sharply worded Memorandum Opinion in the merchant litigation with the Federal Reserve Board (“Board”) regarding the Board’s...more

NACHA Bulletin Addresses Reinitiation Of Returned Debits

On July 15, the Electronic Payments Association (NACHA), the organization that manages the ACH Network, issued a bulletin that describes the provisions of NACHA’s operating rules regarding the “reinitiation” of returned ACH...more

Merchants Challenge Constitutionality of New York’s ‘No Credit Card Surcharge’ Law

Five merchants and their principals have filed a lawsuit in federal district court in New York challenging the constitutionality of a state law that prohibits merchants from imposing a surcharge on credit card purchases. New...more

Retailers Should Use Caution In Collecting Zip Codes From Consumers

In a recent decision, Tyler v. Michaels Stores, the Supreme Judicial Court of Massachusetts ("SJC") has increased the risk of class action lawsuits under M.G.L. c. 93A against retailers who collect consumers' ZIP codes during...more

Code of Conduct for Credit and Debit Card Industry – Guidance Issued by FCAC Commissioner

On February 13, 2013, the Financial Consumer Agency of Canada (FCAC) issued Commissioner’s Guidance (the Guidance) to clarify three issues related to the Code of Conduct for the Credit and Debit Card Industry in Canada (the...more

Do Merchants That Outsource Payment Processing Still Have Risk From a Breach?

Last week a small New England bakery announced that its point-of-sale (POS) devices were infected with malware that may have put card data at risk....more

Magistrate Recommends Lawsuit Against Global Payments Should Be Dismissed

A federal Magistrate has recommended dismissal with prejudice of all of the cardholder plaintiffs’ claims against payment processor Global Payments, Inc. in a widely-reported data breach case....more

FTC's Year-End Report to Congress on Debit Card Transaction Rules Outlines Agency's Enforcement and Education Initiatives

As 2012 came to a close, the Federal Trade Commission updated Congress on its enforcement and other efforts in connection with the new rules regulating debit card transactions implemented last year by the Federal Reserve...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 18, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - E-COMMERCE - PRIVACY/DATA SECURITY - PAYMENTS -...more

2012 Payments Systems Year-in-Review

The interchange fee and the potential of mobile payments were the dominant payment system issues in 2012. From a landmark antitrust settlement to seemingly daily announcements of a new prepaid or mobile payment product, there...more

The Retail Point Of Sale Goes Mobile

Mobile point-of-sale payment terminals have experienced explosive growth over the past year. Unlike a traditional point-of-sale terminal, a mobile terminal communicates wirelessly when processing payment cards. There are...more

FTC Report On Interchange Fees Addresses Community Banks

The Dodd-Frank Wall Street Reform and Consumer Protection Act amended the Electronic Fund Transfer Act, or EFTA, to restrict interchange fees and to prohibit exclusive networks for debit card transactions. The Federal Trade...more

European Parliament Moves Towards Common Rules for Card Payments

On November 20, the European Parliament adopted a nonbinding resolution calling for the development of common rules and standards for personal credit and debit card payments. The resolution explains that such rules would...more

23 Results
|
View per page
Page: of 1