Payment Systems

News & Analysis as of

Payments UK consults on new code

Payments UK is seeking views on its Code of Conduct for Indirect Access Providers. It wants to know how well the Code is working, and how it could be improved....more

FCA rules on PSR regulatory fees

FCA has published a policy statement on its decision and rules on how 2015/16 PSR regulatory fees will be calculated and collected from participants in regulated payment systems. This follows a summer consultation on changes...more

Council adopts PSD2

The Council has published the revised Payment Services Directive (PSD2) text following EP’s approval of it on 8 October (see FReD 16 October)....more

Nov. 10 CMS Call Will Review Clinical Lab Test Payment Proposed Rule

On November 10, 2015, CMS is hosting a public call to discuss its October 1, 2015 proposed rule that would make significant changes to the Medicare clinical diagnostic laboratory test payment system. Registration is required...more

Exchange International: Financial Services Regulation Newsletter - Issue 27

DLA Piper’s Financial Services International Regulatory Team welcomes you to the twenty-seventh edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in...more

MedPAC Discusses Changes to Medicare Advantage Payment System

On October 8 and 9, 2015, the Medicare Payment Advisory Commission (MedPAC) held its second meeting of the 2015-2016 session. Commissioners met to examine ways to improve the Medicare Advantage (MA) payment system, including...more

Get Ready, Get Set: Same-Day ACH Service Mandatory in 2016

Why it matters - Continuing its efforts to modernize the U.S. payments infrastructure, the Federal Reserve Board of Governors announced that effective September 23, 2016, receiving depository financial institutions...more

CMS Sends Final 2016 Medicare Payment Rules to OMB for Review

This week CMS referred major final calendar year 2016 Medicare payment rules to the White House Office of Management and Budget (OMB) for regulatory clearance. Specifically, OMB is reviewing the final CMS rules to update the...more

Second Circuit Rejects Constitutional Challenge to New York “No Credit Card Surcharge” Law

A New York state law that prohibits merchants from imposing a surcharge on credit card purchases does not violate the First Amendment or the Due Process Clause, the U.S. Court of Appeals for the Second Circuit recently ruled....more

Digital Insights & Trends: Embracing EMV Technology for Fraud Reduction and Loss Prevention

October 2015 represents a significant milepost in the migration of U.S. payments products to EMV chip technology. It also serves as a useful evaluation point as to what the technology achieves and where it falls short. By...more

Financial Regulatory Developments Focus - October 2015 #2

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

OIG Recommends Reevaluation of Medicare Payment System for Skilled Nursing Facilities

The HHS Office of Inspector General (OIG) released a report on September 30, 2015 finding that Medicare payments for therapy services provided at skilled nursing facilities (SNFs) greatly exceeded the cost of such services. ...more

New PCI Guidance Provides Businesses With Security Incident Response Assistance

A security event involving payment card data, especially card present data, can be one of the most costly events a company may face. Not only did a recent study report the average total cost of a data breach as $3.8 million,...more

CMS Proposes Major Changes to Medicare Clinical Lab Test Payment Policy

On October 1, 2015, the Centers for Medicare & Medicaid Services (CMS) published its long-awaited proposed rule to base Medicare clinical laboratory fee schedule (CLFS) reimbursement on private insurance payment amounts...more

EP reports on payment services

EP has published its supplementary report on the proposal for a revised Directive on Payment Services (PSD2)...more

CMS Announces Medicare Part D Medication Therapy Management Innovation Model

The latest CMS “innovation model” will test whether providing Medicare Part D prescription drug plan (PDP) sponsors with financial incentives and flexibility with regard to medication therapy management (MTM) program...more

Apple Pay, Android Pay, Samsung Pay: Where’s Your Wallet?

Last week Samsung launched its mobile payments app to compete with ApplePay and Android Pay, with much anticipation among technology bloggers. A few Technorati rushed to try the application so they could compare and contrast...more

Trump Hotel Collection Confirms Year-Long Data Breach

Trump Hotel Collection, the high-end hotel chain owned by the billionaire Republican presidential hopeful and real estate developer Donald Trump, has confirmed a data security breach involving malware that the company says...more

Treasury informs of intent to designate PSR super-complainants

Treasury has written to four consumer groups informing them of its intention to designate them as Payment Systems Regulator (PSR) super-complainants. The four bodies are...more

CMS Corrects FY 2016 Medicare Payment Rules

CMS has released corrections to a number of fiscal year (FY) 2016 final Medicare payment rules. Specifically, on October 5, 2015, CMS is publishing corrections to...more

OIG Again Calls for Reforms to Medicare SNF Reimbursement Policy

The HHS Office of Inspector General (OIG) continues to question the appropriateness of payments to skilled nursing facilities (SNFs) under the Medicare SNF prospective payment system (PPS). Based on Medicare Part A SNF claims...more

CFPB’s Credit Union Advisory Council to meet on October 8

A meeting of the CFPB’s Credit Union Advisory Council has been scheduled for October 8, 2015 at the CFPB’s offices in Washington, DC. The agenda indicates that the “Council will discuss consumer challenges in payments.”...more

Committees publish progress report on enhancing CCP resilience

FSB, the Basel Committee, the Committee on Payments and Markets Infrastructures (CPMI) and IOSCO have together published a progress report on their work to enhance the resilience, recovery planning and resolvability of...more

Credit Card Fraud: EMV compliance and shift of liability as of October 1

As of October 1, 2015, all major credit card companies in the United States (including, Visa, MasterCard, Discover and American Express) will impose a liability shift for counterfeit presentation of payment cards. In the...more

PRA and FCA consult on Form A and controller form changes

PRA and FCA are consulting on amendments to forms that result from changes in the accountability regime. The changes are to ensure the regulators only require necessary disclosures from regulated firms, while ensuring the...more

120 Results
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.