Debit and Credit Card Transactions

Retailers Should Use Caution In Collecting Zip Codes From Consumers

by Mark Bross | Adler Pollock & Sheehan P.C. on 4/15/2013

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

by Stephen Clark, Victoria Graham, Simon Wormwell, Kashif Zaman | Osler, Hoskin & Harcourt LLP on 2/18/2013

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?

by Craig Hoffman | BakerHostetler on 2/11/2013

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

by Randy Gainer | Davis Wright Tremaine LLP on 2/11/2013

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

by Patrick Downes, Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 1/29/2013

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

by BuckleySandler LLP on 1/22/2013

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

by Craig Hoffman | BakerHostetler on 12/29/2012

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

by Thomas (Tom) C. Bell, J. Dax Hansen, Sarah E. Lysons | Perkins Coie on 12/29/2012

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

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 12/28/2012

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

by BuckleySandler LLP on 12/4/2012

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

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