Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast
Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
CFPB’s Increasingly Active Interest in Credit Reporting - FCRA Focus Podcast
Marriott International Inc. (Marriott) has released new numbers relating to its Starwood Hotel’s reservation database by stating that more than 5 million passport numbers were stolen in the database. ...more
Neiman Marcus Group LLC has settled an investigation of its 2013 data breach with 43 states and the District of Columbia for $1.5 million. The data breach involved 370,000 credit cards, where 9,200 of the cards were used in a...more
For most retailers credit cards are the primary form in which payments are made. Accepting credit cards, however, carries significant data security risks and potential legal liability. ...more
Forever 21 has warned customers who used a credit card at any of its stores between March and October 2017 that their credit card may have been compromised....more
For most retailers credit cards are the primary form of the payments that they receive. Accepting credit cards, however, carries significant data security risks and potential legal liability....more
We’ve talked a fair amount about the switch to chip & pin card systems over the past few years. But how about a lack of cards altogether? Because that’s what the banks have in mind....more
Credit cards are the primary form of payment received by most retailers. In order to process a credit card, a retailer must enter into an agreement with a bank and a payment processor. Payment processing agreements often have...more
Cybersecurity should always be at the top of any retailer’s priority list—and even more so as the holiday shopping season gets underway. To that end, the Federal Trade Commission’s newly-released Data Breach Response...more
Retailers that accept credit cards are typically required by the payment card brands to show that they are in compliance with the Payment Card Industry Data Security Standards or “PCI DSS” at least once a year. How a retailer...more
Part I: Assessing the Risk to a Retailer from a Credit Card Data Breach - Debit and credit cards are now the primary form of retail payment. One source estimates that 60% of all retail transactions involve a payment card...more
Many of the largest retailer data security breaches have been caused or enabled by the acts or omissions of retailers’ vendors, such as the widely publicized incident at Target Corporation. Several such breaches occurred...more
American Thrift Stores announced this week that like other retailers, it has been hit with a security breach “that occurred through software used by a third-party service provider” that allowed “criminals from Easter Europe”...more
Starting today, October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases shifts from credit card issuers, such as banks or credit unions, to retail merchants. Credit...more
Hardly a week goes by without a news report of a new cyberattack. As any consumer affected by fraud knows, the harm is real. The impact on businesses, government, and other targets is also real, and includes monetary harm...more
Although Target has tentatively settled consumer data breach class action claims, the retailer remains in the crosshairs of the plaintiffs’ class action bar. On September 15, a Minnesota federal district court certified a...more
On October 1, 2015, a substantial portion of the liability associated with in-store fraudulent credit card purchases will shift from credit card issuers, such as banks or credit unions, to retail merchants. Credit card...more
We released the inaugural BakerHostetler Data Security Incident Response Report, which provides insights generated from the review of more than 200 incidents that our attorneys advised on in 2014. Over the next four weeks, we...more
Welcome to the first Tuesday in November — don’t forget to vote tomorrow! Chip-and-Pin Not Likely “Cure-All” - There is good news in the world of retail data breaches: US merchants are finally moving away from...more
On October 28, 2014, the California Attorney General (“AG”) released its second annual report detailing the security breaches reported to the AG’s office in 2013, and provided recommendations to both the industry and...more
Another month brings another reported massive data breach. On September 8, 2014, Home Depot confirmed that its payment data systems had been breached, potentially impacting customers using payment cards at the retailer’s US...more
Who should be responsible for paying for the costs of data breaches? - Reacting to the recent high-profile security lapses at major retailers, California lawmakers are considering a bill that would shift the burden of...more
. . . a data breach class action. Hackers and plaintiffs’ lawyers could combine to make 2014 the year when class actions concerning theft of sensitive information proliferate. On this 11th Day of Privacy, we look...more
As has been widely reported, the popular retail giant Target announced yesterday that it suffered a data breach impacting approximately 40 million credit and debit card accounts used in Target stores across the country...more