Business email compromise (“BEC”) occurs when a payee’s business email account is compromised or impersonated. The threat actor, posing as the payee or its representative (e.g., the head of the accounting department), sends...more
Business account takeover (“ATO”) fraud occurs where a threat actor gains access to a business account on a payments platform (e.g., a payroll or accounts payable tool) or fraudulently creates such an account and engages in...more
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
In a series of three articles, we will address the ascendency of account takeover (“ATO”) and business email compromise (“BEC”) fraud — the unfortunate occurrence where a payor or intended payee’s account is compromised,...more
There are certain nonbank markets that the Consumer Financial Protection Bureau (“CFPB”) has the statutory right to supervise irrespective of size (e.g., mortgage, private education loan, payday lending). Then, there are...more
Cybercriminals continue to find payment card data enticing. And despite the increasingly stringent safeguards designed to prevent misappropriation, payment credentials are routinely compromised. We have recently written about...more
As we previously wrote, one of the biggest FTC decisions in decades was recently argued before the United States Supreme Court. And on Thursday, April 22, 2021, the Supreme Court unanimously ruled against the Federal Trade...more
On January 25, 2021, just weeks after Congress directed the Federal Trade Commission (FTC) to scrutinize the healthcare industry for anti-competitive activity, the FTC filed a meticulously detailed complaint against Endo...more
On January 18, 2021, President Biden appointed Federal Trade Commissioner Rohit Chopra to direct the Consumer Financial Protection Bureau (CFPB). The CFPB was created through the Dodd-Frank Act in 2010 and began to operate...more
On January 13, 2021, the United States Supreme Court heard an oral argument in a pivotal challenge to the Federal Trade Commission’s (FTC) historic practice of obtaining monetary damages under a statutory provision that, on...more
On December 27, 2020, the Consolidated Appropriations Act (CAA) became law, garnering attention nationwide for the economic stimulus components necessitated by the ongoing pandemic. Less publicized, however, were the...more
As most consumers know, there is often a fee associated with paying by credit card. That fee, called a “surcharge,” allows the merchant to recoup the additional processing costs associated with accepting card payments. While...more
AGG’s Government Investigations Team Insights provides periodic updates covering legal and regulatory topics. Our team, which includes former federal prosecutors, SEC enforcement attorneys, and federal agency attorneys, has...more
Regulatory scrutiny of the payments industry remains intense. Meanwhile, regulators’ expectations of payment processors, ISOs, and payment facilitators have never been higher. Recent enforcement actions have not been limited...more
Beginning in earnest in 2013, the Federal Trade Commission (“FTC”) began to exert pressure on the payments industry—including payment card processors and independent sales organizations (“ISOs”)—to stamp out businesses...more
Even for companies accustomed to civil lawsuits, when the government is on the other side of the “v,” the prospect of litigation can be intimidating and unfamiliar. In this issue of the Litigation Newsletter, we explore how...more
Effectively defending a client from an attack by the government requires an understanding of how the government’s priorities differ from those of a commercial litigant and then building your case around that...more
Employers nationwide are closely watching a class action lawsuit out of federal court in New York in which current and former employees have brought ERISA claims against restaurant chain Dave & Buster’s (“D&B”). In Marin v....more