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Payment Processors

Hudson Cook, LLP

CFPB Bites of the Month - August 2024 - All That's Left of the CFPB's Summer Sky

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In this month's article, we share some of our top "bites" for the prior and current month covered during the August 2024 webinar....more

McDermott Will & Emery

Weekly IRS Roundup July 29 – August 2, 2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 29, 2024 – August 2, 2024. ...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 30, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper

30 States Urge Ninth Circuit to Reinstate Data Privacy Lawsuit

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In an unusual move, attorneys general (AG) from 30 states and the District of Columbia filed a bipartisan amicus brief in the Ninth Circuit supporting efforts to revive a proposed class action against payment processor...more

Sheppard Mullin Richter & Hampton LLP

Swipe Fee Showdown: Illinois Passes Novel Payments Law

Illinois has become the first state to enact restrictions on credit and debit card interchange fees – commonly known as swipe fees – linked to taxes and gratuities. The Interchange Fee Prohibition Act (the “Act”), embedded as...more

Hudson Cook, LLP

Feeding the Loot Box Monster: The CFPB's Concerns with Payment Transmission in Gaming

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On May 9, 2024, we published our first article in a series of articles on the CFPB's interest in gaming. Back on April 4, 2024, the Consumer Financial Protection Bureau ("CFPB") issued a report identifying various risks to...more

Arnall Golden Gregory LLP

BlueSnap: The FTC Remains Aggressive and Sheds New Light on Disfavored Merchant Verticals, Acquirer Practices

On May 1, 2024, the FTC filed suit against BlueSnap, an international payment facilitator, along with two of its executives, simultaneously submitting a stipulated order containing both monetary and non-monetary relief. The...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 14, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Hudson Cook, LLP

"OVER THE LINE!"  Where Banking and Gaming Intersect, the CFPB Has Something to Say.

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The line between virtual and reality is getting thinner. Gamers pay gaming companies real currency for virtual in-game currency to buy skins, create the world they want to live in (virtually), or purchase loot that aid in...more

Fox Rothschild LLP

Cookies and Online Merchants: What Can We Learn From California Lawsuits

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New lawsuits that were recently filed in California echo some of the “cookie” conversations my colleagues and I have been having with online merchants and retail clients....more

Sheppard Mullin Richter & Hampton LLP

FTC Cracks Down on Payments Processor for Facilitating Fraud

On May 1, the FTC announced a settlement in federal court in the Northern District of Georgia against a payment processing company, along with its former CEO and senior vice president, for the company’s role in handling...more

Troutman Pepper

Tackling Credit Push Fraud: Understanding Nacha's Risk Management Package (Part One) — Payments Pros: The Payments Law Podcast

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In this episode of Payments Pros, Carlin and Keith welcome back Jordan Bennett, Nacha's senior director of network risk management, for a two-part series on the newly approved rules designed to combat credit push fraud....more

Stinson LLP

Wisconsin Adopts Model Money Transmission Modernization Act, Joining 19 Other States

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On April 4, 2024, the State of Wisconsin enacted S.B. 668 (the Act), repealing the state’s existing Seller of Checks Act, which solely regulated money transmitters with a physical presence in Wisconsin, and replacing the...more

Skadden, Arps, Slate, Meagher & Flom LLP

New Rules To Tackle Authorised Push Payment Fraud

Authorised push payment (APP) fraud in the UK is the largest type of payment fraud, both in number of scams and value of losses. It involves a fraudster convincing someone to send a payment to a bank account that the...more

Troutman Pepper

Nacha Approves New Rules to Combat Credit-Push Fraud

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On March 18, Nacha, the organization that governs the ACH network, announced that its members approved a new set of rules aimed at reducing the incidence of frauds, such as business email compromise (BEC), that exploit...more

Venable LLP

Ad Law Tool Kit Show – Episode 7 – Payment Processing

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Listen to Episode 7 of our podcast, the Ad Law Tool Kit Show. In this episode, partners Ellen Berge and Andrew Bigart talk to host Len Gordon about payment processing. Check out the episode....more

Venable LLP

Ad Law Tool Kit Show – Episode 7 – Payment Processing

Venable LLP on

Listen to Episode 7 of our podcast, the Ad Law Tool Kit Show. In this episode, partners Ellen Berge and Andrew Bigart talk to host Len Gordon about payment processing. Check out the episode....more

Goodwin

Navigating the Hazy Landscape: Challenges and Solutions in Cannabis Payment Processing

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The sale of adult-use cannabis has been legalized in 24 states in the United States. But this does not mean there are no other legal impediments to the cannabis industry in those jurisdictions. For example, cannabis...more

Wilson Sonsini Goodrich & Rosati

Payments Playbook Series: The Embedded Payments Playbook

As payments innovation continues to accelerate, Wilson Sonsini is publishing a series of pragmatic playbooks to help companies navigate the legal complexities in the highly regulated payments space. In this first installment,...more

BCLP

Play Safe - How scam-proof are you in the new world of mandatory reimbursement for APP fraud?

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Imagine this – a customer submits a payment instruction directing that all their life savings are transferred to a third-party account for the purposes of an investment. What do you do? While the scenario may appear...more

Jenner & Block

Ninth Circuit Limits Jurisdiction Over Web-Based Platforms

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In a recent decision, Briskin v. Shopify, Inc., 2023 WL 8225346 (9th Cir. Nov. 28, 2023), the Ninth Circuit held that a Canadian-based company, Shopify, which provides a web-based payment processing platform to merchants...more

Venable LLP

Georgia on the Mind: An Explainer for Payments Companies Considering the Merchant Acquirer Limited Purpose Bank Charter

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In January 2024, one of the largest U.S. non-bank merchant acquirers announced that it is pursuing a special-purpose bank charter developed by Georgia. Although the “merchant acquirer limited purpose bank” (MALPB) has been a...more

Troutman Pepper

Applications for Georgia Merchant Acquirer Limited Purpose Bank Charter: A Positive Sign for Fintech and Nonbank Direct Access to...

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On January 12, Fiserv announced that it filed an application with the state of Georgia for a merchant acquirer limited purpose bank (MALPB) charter. This application is a seismic development and positive sign for those in the...more

Troutman Pepper

CA DFPI Reaches Settlement with Internet Platform Over Alleged Failure to Disclose Potential Convenience Fees

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On January 9, the California Department of Financial Protection and Innovation (CA DFPI) announced a consent order with Credova Financial, LLC, (Credova) to resolve allegations that, in violation of the California Consumer...more

Harris Beach PLLC

[Webinar] Third Party Risk is Your Risk - January 24th, 11:00 am - 12:00 pm EST

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• Highlights of recent joint agency guidance on Third-Party Risk Management (3PRM) • How 3PRM considerations have increased in importance in BSA/AML compliance programs and enforcement actions • Lessons learned from...more

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