News & Analysis as of

Scrutiny of campus financial products grows

The U.S. Government Accountability Office (GAO) has joined the CFPB’s call for more transparency in the area of campus financial products. Last week, the GAO issued a report on college debit cards in which the GAO recommended...more

Commercial Financial Services Brief: Can My Bank Recover Costs Related to Replacing Debit or Credit Cards?

Many financial institutions are counting the costs they are incurring for replacing customer debit or credit cards as a result of recently discovered security breaches at various national retailers. These costs will be...more

The Number of The Day: 70 Million (at least)

The Target data breach story keeps getting worse. The December pre-Christmas disclosure was the theft of up to 40 million Target shoppers’ credit and debit card information in what appeared to have been a hack of the Target...more

Are You a Target?

As has been widely reported, the popular retail giant Target announced yesterday that it suffered a data breach impacting approximately 40 million credit and debit card accounts used in Target stores across the country...more

The Download - November 2013

In this issue: - Senator Markey and Representative Barton Reintroduce Do Not Track Kids Act - House Bipartisan Working Group Continues Discussion on Privacy - Federal Trade Commission Holds Workshop on...more

New Rules in Canada for Payments Contracts

New rules came into effect in Canada on Nov 12, 2013 dealing with contracts between merchants and payment providers (including banks), payment networks, payment hardware providers or multiple service providers, in the credit...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - June 7, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PRIVACY/DATA SECURITY -...more

Cyprus: Latest relaxation of restrictive measures

The Republic of Cyprus continues to issue new decrees pertaining to the relaxation of restrictive measures. Updates regarding these decrees, from Harneys' Cyprus Banking Group, are below. Enforcement of...more

PCI Security Standards Council Offers Guidance For Protecting Payment Card Data

On February 14, the PCI Security Standards Council, the open global forum responsible for setting payment security standards, issued guidelines for merchants on the factors and risks they must address to protect card data...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

FCAC Commissioner Issues Guidance Relating to Code of Conduct

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

Mobile Payment Transactions – Proposed Expansion of the Code of Conduct for the Credit and Debit Card Industry in Canada

On September 18th, 2012, the federal government announced the proposed expansion of the Code of Conduct for the Credit and Debit Card Industry in Canada (the “Code”) to apply to credit and debit network participants that...more

NACHA Requests Comment on Standardizing P2P Payments Using WEB Code

NACHA has released several concurrent requests for comment (“Requests”) on proposals to amend the NACHA Operating Rules (Rules), including amendments to the Rules regarding “compliance/operational topics” and international...more

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