GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
The Interchange Fee Prohibition Act (IFPA), signed into law in June of 2024 by Illinois Governor J.B. Pritzker, prohibits banks, savings associations, credit union, and others from receiving or charging an interchange fee on...more
In recent years, banking fraud in France has surged, driven by advanced technology and the integration of payment methods and mobile banking. We do a deep dive into the legislation to help our clients stay informed and...more
Authorised Push Payment (“APP”) fraud, where victims are tricked into authorising payments to fraudsters, resulted in losses of £485.2m in 2022 and is reported to have risen by 22% in 2023. With consumer protection laws...more
President Recommends Regulatory Reforms to Address Recent Bank Failures - President Biden has issued a statement urging the federal banking agencies to adopt regulatory reforms that are meant to reduce the risk of future...more
As part of the Office of the Comptroller of the Currency’s (OCC) declared effort to keep pace with a mounting demand for faster, cheaper, and more efficient payments, and the widespread adoption of new technologies, the...more
The Dutch Data Protection Authority has written to the Dutch Banking Association to state that processing customers' transaction data for direct marketing purposes may not be in compliance with the General Data Protection...more
The payment market in Israel and around the world is marching toward revolution: Facebook announced the launch of its digital currency, the Libra; Le’umi Bank entered into agreements with 400 businesses for acceptance of...more