The Ohio Board of Tax Appeals held that certain financial authorization services, Debit Authorization as described below, are not taxable automatic data processing processing (“ADP) or electronic information services (“EIS”)....more
Consumers often are able to effect transactions by providing payment authorization ahead of time. How often a consumer may authorize a prescheduled transaction differs slightly under Regulation E and the National Automated...more
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
Payment scams exploiting the lure of cryptocurrency are a growing concern for individuals and businesses—losses from crypto scams increased from $907 million in 2021 to $2.57 billion in 2022. These scams typically involve...more
On April 30, 2021, as part of the 2021 federal budget, the Canadian government introduced Bill C-30, An Act to implement certain provisions of the budget tabled in Parliament on April 19, 2021, and other measures (the...more
PSR issues new directions and response to consultation feedback - The Payment Systems Regulator (PSR) has issued new versions of its directions following its consultation in CP19/3. It has also published a document,...more
This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more