European Free Trade Association Disclosure Requirements

The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven... more +
The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven European Economic Community (EEC). The current member states of the EFTA are Liechtenstein, Iceland, Norway, and Switzerland.   less -
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Much Ado About Payroll Cards

In my last blog post, “To Fee or Not to Fee—The Pros and Cons of Payroll Cards,” I discussed the growing popularity of payroll cards and several U.S. senators’ plea for guidance on this burgeoning pay practice. Perhaps in...more

CFPB Uses Novel Interpretation, Increases Compliance Burden for Gift Card Issuers Through its First Preemption Determination

On April 19, 2013, the Consumer Financial Protection Bureau (“CFPB”) announced it was making a determination to preempt a provision of Tennessee unclaimed property law that it deemed inconsistent with the federal Electronic...more

CFPB Finalizes ATM Disclosure Rule Changes

On March 21, the Bureau of Consumer Financial Protection finalized a rule implementing the ATM placard legislation that was signed into law last December. In December 2012, Congress passed and the President signed legislation...more

President Signs ATM Disclosure Bill And CFPB Privilege Bill

On December 20, President Obama signed two bills impacting bank supervision and compliance. These bills were sent to the President after the Senate approved both measures on December 11. The first, H.R.4014, amends the...more

Legislation Eliminates Federal Requirement to Post Fee Notice at Automated Teller Machines

President Obama has signed legislation eliminating the federal requirement that ATM operators post a sign on or at an ATM disclosing that a fee is imposed on transactions at that ATM. However, a New York State law that...more

No More Sticker Shock — Congress Eliminates the External Fee Notice Requirement in the Electronic Fund Transfer Act

Congress gave banks and other ATM operators an early holiday present this year. On December 11, the Senate unanimously passed S. 3204, which eliminates the external fee notice requirement in the Electronic Fund Transfer Act,...more

Congress passes bill eliminating ATM fee sticker requirement

The U.S. Senate has joined the House of Representatives in approving a bill (H.R. 4367) amending the Electronic Fund Transfer Act to eliminate the requirement that a fee disclosure be placed in a prominent and conspicuous...more

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