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 Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
Recently, the Fed released its eighth biennial report on debit card transactions, providing an in-depth look at industry trends for 2023, pursuant to Section 920 of the EFTA. The report stated that payment card networks...more
On January 9, several banking trade associations filed an amicus brief in the U.S. Court of Appeals for the 8th Circuit addressing an appeal concerning Regulation II (pronounced “eye-eye”), which the Fed promulgated in 2011...more
On December 30, 2025, the CFPB published its seventh biennial Credit CARD Act report. As required by the CARD Act, the report discusses the state of the credit card market through 2024, with a particular focus on credit card...more
These days, a lot of restaurant customers pay for food and drinks with a credit card, and they often leave a tip by credit card, rather than leaving cash. Credit card companies usually charge restaurant owners transaction...more
On November 10, the plaintiff filed a notice of appeal to the U.S. Court of Appeals for the 6th Circuit, seeking review of a district court decision denying the plaintiff’s, and granting the Fed’s, motion for summary...more
On October 6, the Fed filed a notice of appeal in the U.S. District Court for the District of North Dakota in connection with the court’s ruling that struck down Regulation II’s standard for setting debit card interchange...more
On September 19, the U.S. District Court for the District of Massachusetts denied a motion to compel arbitration in a putative class action brought by small merchants challenging anti-steering rules and swipe fees imposed by...more
On September 15, the U.S. District Court for the Eastern District of Kentucky granted summary judgment in favor of the Fed, upholding the Board’s regulation which caps debit card interchange fees. The regulation in question —...more
On August 6, 2025, in Corner Post, Inc. v Board of Governors of the Federal Reserve System, the U.S. District Court for the District of North Dakota (the “Court”) granted Corner Post’s motion for summary judgment, finding...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
At the request of both sides of the lawsuit, a federal judge has voided the CFPB’s credit card late fee rule....more
Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules....more
Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more
Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more
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
On October 16, 2024, the Bank Policy Institute and the Clearing House Association filed a motion to intervene in Corner Post, Inc. v Board of Governors of the Federal Reserve System. On July 1, 2024, the Supreme Court sided...more
On October 2, the Office of the Comptroller of the Currency (OCC) filed an amicus brief in the U.S. District Court for the Northern District of Illinois in support of several banking associations’ motion for a preliminary...more
In our recent post, “As Chevron Goes, So Goes the Sentencing Guidelines”, we discussed the possible ramifications the U.S. Supreme Court decision in Loper Bright might have on the Sentencing Guidelines going forward. Namely,...more
The Justice Department’s Antitrust Division has been aggressively pursuing civil enforcement actions. While criminal enforcement of antitrust laws has been depressed, DOJ has found success in pursuing civil and merger...more
In October 2011, three related (or parallel) class action lawsuits were filed. These cases named Visa and Mastercard (and others) as defendants but are unrelated to the Interchange Fee case with the $5.5 billion settlement...more
On September 17, the FTC announced that the U.S. District Court for the Middle District of Florida approved the Commission’s order, effectively shutting down several companies named in the FTC’s June complaint and required...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Republican AGs Urge EPA to Block CA’s Clean Fleets...more
The CFPB issued guidance, titled Improper Overdraft Opt-In Practices, addressing whether a financial institution violates the law if it levies overdraft fees for ATM and one-time debit card transactions based on phantom...more
On August 26, the CFPB published a report regarding cash-back fees that some retailers charge for consumers to access cash via the consumers’ debit or prepaid cards. According to the CFPB, such fees have become more prevalent...more
On August 15, several banking and credit union associations sued the Illinois Attorney General to prevent the state from implementing the Illinois Interchange Fee Prohibition Act (the “Act”). As covered by InfoBytes, the...more