Debit and Credit Card Transactions

News & Analysis as of

Target Data Breach Settlement

On November 30, 2013, I stopped at Target to purchase a birthday gift for my friends’ one-year-old daughter. Little did I know that I would be exposed to one of the largest data breaches in retail history. Fortunately, my...more

PCI SSC Releases Version 3.1 of Data Security Standard

On April 15, 2015, the Payment Card Industry Security Standards Council (the “PCI SSC” or “Council”) released a new version of its Data Security Standard (“PCI DSS”), version 3.1, which contains numerous updates including,...more

Explaining the Implications for Merchants of EMV and the Liability Shift

The EMV liability shift is coming. Sounds ominous, but what does it really mean? And how can retailers and merchants determine the potential impact of the shift on their business? Like many issues in the payment card...more

Target settles with MasterCard for $19M for data breach losses

Target Corp. announced yesterday that it has settled the claims of MasterCard International Inc. (MasterCard) against it to reimburse MasterCard and its card issuers for the losses it sustained in issuing new credit and debit...more

Five Steps To Data Breach Coverage For Card Issuer Liability

Target’s $19 million settlement with MasterCard underscores very significant sources of potential exposure that often follow a data breach incident. In the wake of any significant breach involving payment cards, such as the...more

PCI Published New Security Standards for Payment Card Vendors

The Payment Card Industry Security Standards Council (PCI SSC) recently published updated PCI Card Production Security Requirements. Version 1.1 of the standards include new logical and physical security standards to protect...more

Impact of FTC's Broadened Scope Creeping In On Your E-Business

For retailers who have eBusiness lines, the Federal Trade Commission’s (“FTC”) new regulations will affect the way you do business. The amendments in 16 C.F.R. §435 went into effect December 8, 2014. Has your business made...more

Why the CFPB’s new lawsuit resembles “Operation Choke Point”

Yesterday, the CFPB announced that it had filed a lawsuit against “the ringleaders of a robo-call phantom debt collection operation, their companies, and their service providers.” This is the same lawsuit filed in federal...more

A Look Back: NetDiligence 2014 Cyber Claims Study

The NetDiligence 2014 Cyber Claims Study relies on data voluntarily provided by insurers about amounts paid out on cyber claims occurring from 2011 through 2013. Since the Study only accounts cyber claims reported to larger...more

European Parliament Adopts MIF Regulation

On March 10, 2015, the European Parliament published a press release announcing that it has adopted the proposed Regulation on interchange fees for card-based payment transactions (MIF Regulation). The adopted text has not...more

Court's Interpretation of Merchant Services Agreement Limits Retailer's Liability to Card Brands for Data Breach

On January 15, 2015, the U.S. District Court for the Eastern District of Missouri ruled that fees, assessments and costs imposed by the credit card brands on Schnuck Markets, Inc. (Schnuck), a grocery chain estimated to have...more

Payphones: It’s a Whole New World

Someone must have once echoed those sentiments back in the 1890’s when payphones as we knew them were first introduced to the public. Now, as then, payphones were created as a convenience to be used in public places, mostly...more

PCI Security Standards Council Announces Revisions to the use of SSL

The Payment Card Industry (PCI) Security Standards Council has released a bulletin on impending revisions to version 3.0 Payment Application Data Security Standards (PA-DSS) and version 3.0 of the PCI Data Security Standard...more

With Cert Denial, Fed’s Interchange Rules Will Stand

Why it matters - With the U.S. Supreme Court’s denial of certiorari, the Board of Governors of the Federal Reserve Board’s interchange rules will stand. The justices declined to hear an appeal from retailers without...more

Texas Federal Court Rejects Challenge to ‘No Credit Card Surcharge’ Law

A federal district court in Texas has dismissed a lawsuit brought by several merchants challenging the constitutionality of a state law that prohibits merchants from imposing a surcharge on credit card purchases. In Rowell v....more

ECON Votes in Favor of the MIF Regulation

On January 27, the Economic and Monetary Affairs Committee (“ECON”) released a press release stating that it had voted in favour of the proposed Regulation on multilateral interchange fees (“MIF Regulation”). This vote...more

Alert: The Proposed Regulation on Interchange Fees for Card-Based Payment Transactions

"Payment cards are the most frequently used electronic payment instrument for retail purchases. However, integration of the [European] Union [(EU)] payment card market is far from complete as many payment solutions cannot...more

Losses Associated with Cyberattack at Grocery Store do not Override Liability Cap

Grocery stores have been hit with a number of suits by their customers in recent years after a cyberattack of the store leads to a theft of customer financial information. Another type of suit arises frequently when such...more

Will 2015 Be The Year of the Data Breach Class Action?: Target Data Breach Claims Survive Motions to Dismiss

Various media outlets dubbed 2014 “the Year of the Data Breach.” Unfortunately for businesses, breach of their secure systems by hackers may be only the beginning of the bad news – which often culminates in class action...more

Data Breach Litigation – Financial Institutions Score Another Shot

Previously I wrote about banks joining the legal battle over data breaches. Anyone not living under a rock knows that there is multidistrict class action litigation involving Target’s massive data breach in December 2013...more

California Repeals Prohibition on Use of Alternative Currencies

From pet grooming services paid with currencies backed by aggregated gift cards to coffee shops in Palo Alto and San Francisco that accept digital currencies for a latte, many Californians are completing everyday transactions...more

Consumer Claims Survive Motion to Dismiss in Target Data Breach Class Action

A recent ruling by Federal District Judge Paul Magnuson will permit most of the consumer claims in the Target data breach litigation to survive Target’s motion to dismiss. This most recent ruling follows on the heels of the...more

Consumers Permitted To Proceed With Data Breach Class Action Against Target

On December 18, 2014, the U.S. District Court for the District of Minnesota ruled, in a 46-page opinion, that a putative class of consumers could proceed with a majority of their claims against Target arising from the data...more

U.S. District Court in Minnesota Denies Target’s Motion to Dismiss Data Breach Lawsuit

On December 2, 2014, the U.S. District Court for the District of Minnesota denied Target’s motion to dismiss the claims of a group of five payment-card-issuing banks, credit unions, and savings associations (the “Banks”) that...more

For companies, perils abound when soliciting information at point of sale

Of all of the numbers that are part of your daily personal life, which are important enough to keep private? Your Social Security number? Definitely. Your date of birth? Maybe — depending on how cautious (and how old)...more

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