Debit and Credit Card Transactions

News & Analysis as of

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

Washington Department of Financial Institutions Denies ETA’s Petition for Declaratory Order on Technical Grounds

On March 15, the Washington Department of Financial Institutions responded to the Electronic Transactions Association’s (ETA) December 2015 Petition for Declaratory Order, which sought clarification on the statutory...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

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

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