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Data Privacy Payment Systems

A&O Shearman

FSB forum on cross-border payments data

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The Financial Stability Board (FSB) has announced the establishment of a forum on cross-border payments data, a key outcome from the FSB's recommendations for data frameworks related to cross-border payments published in...more

Davis Wright Tremaine LLP

New Administration Outlook: The Future of Government Payments – No More Paper Checks Later This Year

New executive order mandates a general transition to electronic payments and the elimination of paper checks for federal payments, such as distributing tax refunds, Social Security benefits, veterans' benefits, and other key...more

A&O Shearman

PSR publishes policy statement on 2024 APP scams data

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The UK Payment Systems Regulator (PSR) has published a policy statement outlining its approach to publishing authorised push payment (APP) scams data for 2024. In 2025, the PSR will take a different approach to publishing...more

Davis Wright Tremaine LLP

PCI SSC Clarifies Obligations for Ecommerce Merchants That Outsource Payment Card Processing

The Payment Card Industry Security Standards Council (PCI SSC) has issued an FAQ for ecommerce merchants that outsource their payment card processing to a vendor using an embedded payment page or form (such as an "iframe")....more

A&O Shearman

UK regulators publish feedback statement on big tech and digital wallets

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The UK Financial Conduct Authority (FCA) and the UK Payment Systems Regulator (PSR) have issued a joint feedback statement on the usage and impact of big tech and digital wallets (FS25/1). The feedback statement was...more

Robinson+Cole Data Privacy + Security Insider

DOGE Blocked from Access to Department of Treasury Payment Systems

On February 21, 2025, a federal district court judge from the Southern District of New York issued a preliminary injunction against the Department of Government Efficiency’s (DOGE), access to Treasury Department payment...more

DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - January/February 2025

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Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

Clark Hill PLC

The Growing Cybersecurity Risks in the Cannabis Industry

Clark Hill PLC on

Those familiar with the industry know that cannabis retailers find themselves in a unique position compared to other product retailers. Cannabis retailers face significant regulatory hurdles to their operation—particularly in...more

Orrick, Herrington & Sutcliffe LLP

Congressional letter expresses concern over DOGE, Musk influence, and CFPB work stoppage

On February 11, 189 congressional Democrats sent a letter to Acting Director Russell Vought of the CFPB and Treasury Secretary Scott Bessent expressing concerns regarding the involvement of DOGE at the CFPB and the orders to...more

Orrick, Herrington & Sutcliffe LLP

FSB recommends data flows changes and supervision of cross-border payments

Recently, the FSB released its final recommendations aimed at improving data flows and the regulation and supervision of cross-border payments. These recommendations aim to facilitate greater efficiency of cross-border...more

Clark Hill PLC

What Debt Settlement Companies Need to Know When Working With Third Party Payment Processors (Whitepaper)

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Clark Hill’s Financial Services and Regulatory Compliance Group has authored a whitepaper for debt settlement companies considering engaging a third-party payment processor for managing accounts and handling financial...more

Wilson Sonsini Goodrich & Rosati

Payments Playbook Series: Crypto Payments Playbook

As payments innovation continues to accelerate, Wilson Sonsini is publishing a series of pragmatic playbooks to help companies navigate the legal complexities in the highly regulated payments space. In this new installment,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Interpretive Rule on Emerging Payment Mechanisms Under EFTA

On January 2, 2025, the Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule under the Electronic Fund Transfer Act (EFTA) and Regulation E to clarify how emerging payment systems, such as those used in...more

Cooley LLP

CFPB Explores Options for Bringing Digital Payments Providers Under Privacy and Payments Laws

Cooley LLP on

On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) initiated rulemaking processes to examine and create a framework regarding data privacy and consumer protections in the digital payments industry. In a...more

Venable LLP

Maximizing the Benefits (and Minimizing the Risks) of Payment Orchestration

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The payments industry continues to evolve in response to the demand for flexible, fast, and secure payment options. Innovations have included payment facilitation, push-to-card services, and real time payments, among others....more

Skadden, Arps, Slate, Meagher & Flom LLP

National Payments Vision: A Strategic Blueprint for the Future of UK Payments

On November 14, 2024, the UK government unveiled its National Payments Vision (the Vision), a strategy designed to reshape the UK’s payments ecosystem. This Vision responds to the findings of the 2023 Future of Payments...more

Goodwin

Money20/20 Zeros in on AI, Open Banking, and Payment Innovation

Goodwin on

The end of October marked the conclusion of another successful year of Money20/20, the premier event for the payments, banking, fintech, and financial services industries. If you missed the conference, fear not. Below is a...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK’s Pursuit of Open Finance

In April 2024, the UK government reiterated its vision for open finance, with UK Economic Secretary Bim Afolami (MP) announcing the creation of the Open Finance Taskforce at the 2024 Innovate Finance Global Summit. The...more

American Conference Institute (ACI)

[Event] 24th National Forum on Prepaid Accounts Compliance - April 8th, New York, NY

The 24th National Forum on Prepaid Accounts Compliance will address the latest developments impacting the prepaid industry and provide answers to the most pressing questions and challenges being faced by practitioners in this...more

Akerman LLP

Explainer Things: Episode 5

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Extreme Makeover: Payments Edition? The CFPB's General Counsel, Seth Frotman, spoke to the Innovative Payments Association at its conference this month highlighting three "areas of concern" the agency has about the rapidly...more

Orrick, Herrington & Sutcliffe LLP

Fed governor outlines CBDC risks

On April 18, Federal Reserve Governor Michelle W. Bowman cautioned that the risks of creating a U.S. central bank digital currency (CBDC) may outweigh the benefits for consumers. Bowman said the Fed continues to engage in...more

Foley & Lardner LLP

Supplier Alert: Key Changes in Stellantis/FCA New Terms and Conditions

Foley & Lardner LLP on

FCA US LLC and Stellantis N.V. (“FCA”) issued new purchase order terms and conditions, including Global Terms and Conditions – Direct Materials (Common to all regions) and a North America Exhibit A to Global General Terms and...more

Wilson Sonsini Goodrich & Rosati

Fintech and Financial Privacy: Regulatory Developments on the Use of Financial Data

So you're a fintech startup, buying a fintech company, or expanding the technical capabilities of your financial business. Or you're a tech company that is getting into the payments space. Where do you start when it comes to...more

Adams & Reese

Payment Service Providers’ Valuable Data is Getting More Regulatory Attention

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The ways consumers make payments, including the data and technology associated with those payments, is becoming an increased focus of regulators. Financial institutions should carefully and thoroughly consider the recent...more

McGlinchey Stafford

The New ‘Smart’ Car: An Introduction To Connected Car Payments

McGlinchey Stafford on

The what: What are connected car payments? Connected car payments are a subset of connected car technology. Connected cars are vehicles with technology integrated into the user’s daily life that allow the vehicle to...more

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