News & Analysis as of September 21, 2024

European Union › Credit Cards

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

EDPB Issues New Guidance on Storing Credit Card Data for Future Purchases

Latham & Watkins LLP on 7/8/2021

Online retailers storing credit card data for the sole purpose of facilitating further purchases will likely need to obtain consumer consent. Online shopping has boomed in recent years. In 2020, the European statistics...more

UPDATE: European Commission Publishes its Report on the Impact of the Interchange Fee Regulations

Proskauer Rose LLP on 7/6/2020

In March we wrote that the European Commission (the “Commission”) had published its study on the application of the Interchange Fee Regulation (Regulation 2015/751 on interchange fees for card-based payment transactions, the...more

Can a company base the collection and processing of credit card information upon the performance of a sales contract?

BCLP on 6/2/2020

Yes. The GDPR anticipates that a company may process personal data as long as one (or more) of six lawful purposes applies. One of those lawful purposes relates to the collection of personal data about a person as part of...more

Latest Developments in the Israeli Payments Market

Barnea Jaffa Lande & Co. on 12/23/2019

The Bank of Israel recently led several important developments in the Israeli payments market. These developments are designed to encourage competition in the payment services market and to advance the implementation of...more

Interactive Newsletter: Inside the Privacy Shield Annual Review

ArentFox Schiff on 10/9/2019

Inside the Privacy Shield Annual Review - Dozens of senior US and EU government officials were joined by officials from data protection authorities in Austria, Bulgaria, France, Germany and Hungary to discuss whether the...more

Your Daily Dose Of Financial News

Robins Kaplan LLP on 5/3/2019

We were pretty sure that the Fed would keep interest rates steady as it wrapped its Open Market Committee meetings yesterday, and Fed Chair Powell delivered on that expectation. He also admitted that the same lack of...more

Consumer financial services: The road ahead: Payment processing

White & Case LLP on 3/15/2019

The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 6/27/2018

CEO Dara Khosrowshahi is undoubtedly breathing a sigh of relief on news out of the UK yesterday that Uber will regain its taxi license in London—a “crucial victory for efforts by its new chief executive to revamp the...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/1/2018

As has been buzzed about for several months, music-streaming startup Spotify has officially filed [directly] a prospectus for its listing on the New York Stock Exchange....more

[Webinar] The Brave New World of Payments: opportunities and threats post-PSD2 - March 1st, 12:00pm GMT

Hogan Lovells on 2/12/2018

Register now for our live webinar to learn about the key developments that will help payments experts to thrive in the post-PSD2 era. We've gathered leading payments regulation and technology professionals to look at the...more

Red Notice Newsletter - November 2017

Akin Gump Strauss Hauer & Feld LLP on 12/1/2017

ANTICORRUPTION DEVELOPMENTS – SBM Offshore N.V. Agrees to Pay $238 Million to Resolve DOJ FCPA Enforcement Action - On November 29, 2017, SBM Offshore N.V. (SBM), a Netherlands based company specializing in the...more

Key Regulatory Topics: Weekly Update - 29 July 2017 – 3 August 2017

A&O Shearman on 8/8/2017

BREXIT - HM Government to introduce an International Sanctions Bill - On 2 August, the government published plans for a bill that would give it the legal power to impose sanctions after it leaves the EU. The Queen's...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/30/2017

A group of current and former Citizen Bank branch employees from five states has admitted to fabricating information about the results of the Bank’s much-touted “Citizens Checkup” program (in which real customers are invited...more

Global Privacy & Cybersecurity Update Vol. 13

Jones Day on 3/15/2017

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

Data Privacy Day? Yep, it’s a Thing.

Snell & Wilmer on 1/30/2017

For a number of years now, January 28 has been marked as “Data Privacy Day” (or, for our European friends, “Data Protection Day”), and it is often overlooked observed in the United States, Canada, India and many European...more

Hogan Lovells Global Payments Newsletter - January 2017

Hogan Lovells on 1/18/2017

Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as...more

UK Payment Systems Regulator Issues Guidance Setting Credit and Debit Interchange Caps

Eversheds Sutherland (US) LLP on 3/31/2016

On March 24th, the United Kingdom’s Payment Systems Regulator (PSR) issued final guidance establishing interchange fee caps on credit and debit card transactions where the point of sale is located in the United Kingdom. The...more

A Closer Look at Cybersecurity Legislation and Regulations in the US and Abroad - Global Overview

WilmerHale on 3/7/2016

With interconnectivity and use of digital storage expanding, cyberthreats posed by nation states, commercial competitors, company insiders, transnational organised crime and ‘hacktivists’ are growing on a global basis. Recent...more

Dodd-Frank at 4: Where do we go from here?

Morrison & Foerster LLP on 8/6/2015

Where do we go from here? As we mark another milestone in regulatory reform with the fourth anniversary of the enactment of the Dodd-Frank Act, it strikes us that although most studies required to be undertaken by the Act...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 4/23/2015

ICMA Issues Updated Legal Opinions On GMRA - On April 9, the International Capital Market Association (ICMA) published the 2015 legal opinions on the Global Master Repurchase Agreement (GMRA), the principal standard...more

European Parliament Adopts MIF Regulation

Orrick - Finance 20/20 on 3/17/2015

On March 10, 2015, the European Parliament published a press release announcing that it has adopted the proposed Regulation on interchange fees for card-based payment transactions (MIF Regulation). The adopted text has not...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 9/9/2014

ESMA Publishes Guidelines on the EU Implementation of CPSS-IOSCO Principles - On September 4, ESMA published the translation of guidelines and recommendations on implementing the principles for financial market...more

Payments Industry Update: European Commission announces regulation of Interchange Fees and a ban on Surcharges

Pillsbury - Global Sourcing Practice on 7/26/2013

On July 24, the European Commission unveiled its legislative package to adapt the EU payments market to the opportunities of the single market and to support EU economic growth....more

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European Union › Credit Cards

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