News & Analysis as of

Debit and Credit Card Transactions

Gavel to Gavel: Most states may surcharge transactions

by McAfee & Taft on

Few fees frustrate the average business more than those incurred by accepting credit cards. From a practical perspective, refusing credit cards is usually not a viable option. Originally published in The Journal Record |...more

Aw Schnucks! Seventh Circuit Dismisses Data Breach Class Action By Financial Institution Plaintiffs Under Economic Loss Doctrine

by Carlton Fields on

The Seventh Circuit recently upheld the dismissal of a novel putative class action filed by financial institutions against grocer Schnuck Markets (“Schnucks”) based on the economic loss doctrine. ...more

I Want My Data Back Data Back Data Back

by Ward PLLC on

Chili’s, as you may have heard, announced that they are the latest data breach victim, disclosing that customer credit cards were accessed at a number of their stores in March and April. The breach, which the company says was...more

7th Circuit: Economic Loss Rule Barred Tort Claims in Data Breach Case

by Weiner Brodsky Kider PC on

The Seventh Circuit recently rejected tort claims by banks against a grocery store chain whose credit card terminals had been breached, holding that the economic loss rule limited the banks to their contractual remedies under...more

The State AG Report Weekly Update April 2018 #4

by Cozen O'Connor on

Antitrust- Texas Attorney General Reaches Settlement with Dental Supply Distributor Over Alleged Anticompetitive Conduct- Texas Attorney General Ken Paxton settled with dental supply distributor Patterson Companies,...more

Banks Cannot Skirt Contract Remedies In Data Breach Suit Against Retail Merchant

by Jackson Lewis P.C. on

Attempting to advance a novel theory of law, several banks filed a class action in Illinois federal court against a grocery store chain arising out of a data breach that resulted in the theft of 2.4 million credit and debit...more

Minor Not Bound—Directly Or Indirectly—By Arbitration Agreement In Mother’s Credit Card Agreement

by Carlton Fields on

Last month the Seventh Circuit reversed a lower court order enforcing an arbitration agreement contained in cardholder agreement as applied against the minor daughter (“A.D.”) of the cardholder, rejecting the bank’s attempt...more

Credit Card Evolution: Goodbye John Hancock

by Goulston & Storrs PC on

For years, the signature requirement for completing a credit card transaction has felt something like an obsolete means of confirming a user’s identity. ...more

Seventh Circuit Reinstates Barnes & Noble Data Breach Class Action

by Ballard Spahr LLP on

The U.S. Court of Appeals for the Seventh Circuit has reinstated a data breach class action filed against Barnes & Noble (B&N).  The litigation, styled as Dieffenbach v. Barnes & Noble, Inc., now heads back to the U.S....more

Criminal And Civil Charges Filed In Connection With Initial Coin Offering By Centra Tech

by Shearman & Sterling LLP on

On April 2, 2018, the U.S. Department of Justice (“DOJ”) and Securities Exchange Commission (“SEC”) announced criminal and civil charges against two startup co-founders for allegedly defrauding and conspiring to defraud...more

Technical FACTA Violation Insufficient To Confer Standing

by Cozen O'Connor on

A federal court in Texas cut short a putative class action alleging violation of the truncation requirement under the Fair and Accurate Credit Transactions Act (FACTA), sending a clear message to plaintiffs that minor...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

China’s latest response to the White House’s aluminum and steel tariff plans came in the form of a no-joke April 1 announcement of its own tariffs of roughly $3 billion in 128 U.S.-made products ranging from pork to wine and...more

Sorry, But Your Credit Card (Class Action) Has Been Declined

by Carlton Fields on

The Eastern District of New York recently declined to certify a putative class action filed by merchants against the four major credit card providers alleging antitrust violations. ...more

Seventh Circuit Denies Arbitration of Accountholder Daughter’s TCPA Class Action Claims

by Ballard Spahr LLP on

In A.D. vs. Credit One Bank, N.A., the U.S. Court of Appeals for the Seventh Circuit reversed a district court order compelling individual arbitration of a putative class action for Credit One's alleged violations of the...more

FACTA Cases Continue to Present Ideal Targets for Spokeo Challenges-Eleventh Circuit Defendants Take Particular Notice

We’ve already written about Spokeo, Inc. v. Robins, 136 S. Ct. 1540 (2016), in which the Supreme Court reaffirmed that all federal plaintiffs, even those alleging a statutory violation, must have suffered a real, concrete...more

Mall Smoothie Does Not Bind Teenager To Mom’s Arbitration Agreement With Credit Card

A new Seventh Circuit case answers the age-old question: if a fourteen-year-old swipes her mom’s credit card to complete a smoothie purchase at the mall, is she bound to the credit card agreement?...more

Spokeo Strikes Down Another Data Privacy Class Action

by McGuireWoods LLP on

The Supreme Court’s decision in Spokeo, Inc. v. Robins continues to have an impact on class actions involving data privacy statutes. Most recently, a federal district court dismissed yet another class action involving claims...more

Groundwork Grows for Defendants Challenging FACTA Complaints Lacking Actual Injury Allegations

by Fenwick & West LLP on

The U.S. Court of Appeals for the Ninth Circuit joined a growing number of circuit courts of appeal to hold that alleged procedural violations of the Fair and Accurate Credit Transactions Act, such as the inclusion of a...more

Ninth Circuit Ruling Rejects FACTA Suit under Spokeo, Avoiding Circuit Split

by K&L Gates LLP on

The Ninth Circuit recently held in Bassett v. ABM Parking Services, Inc. that a plaintiff cannot establish Article III standing to maintain a Fair and Accurate Credit Transactions Act (“FACTA”) claim merely by pleading that...more

2017 Consumer Finance Year in Review

by Goodwin on

The consumer financial services industry began 2017 with optimism, as well as considerable uncertainty with the new Administration in the White House, knowing only that the year would bring change. And change it did bring...more

Mere Statutory FACTA Violations Are Not Enough to Establish Article III Standing

by King & Spalding on

On February 2, 2018, the United States District Court for the Northern District of Alabama dismissed a Fair and Accurate Credit Transaction Act (“FACTA”) lawsuit because, among other things, the plaintiff failed to allege a...more

Federal Courts Do Not Appreciate Defendants Obtaining Arbitration Agreement From Active Plaintiff

In today’s post, we pick up where the 4th Circuit left off a few weeks ago — with federal circuit courts finding ways to avoid enforcing arbitration agreements that are obtained years after litigation has commenced....more

Kirkland FACTA Case May Create Circuit Split

by Reed Smith on

Kirkland, Inc. will face a putative class action for allegedly violating the Fair and Accurate Credit Transactions Act (“FACTA”). The plaintiffs filed their complaint against Kirkland in April 2017 for displaying the first...more

Ninth Circuit Holds That a Prohibition on Credit Card Surcharges Abridges Merchants’ Freedom of Speech in Violation of First...

by Foley & Lardner LLP on

The Ninth Circuit’s recent decision in Italian Colors Rest. v. Becerra (“Italian Colors”), upheld an as-applied constitutional challenge to a California law prohibiting retailers from imposing a surcharge on customers paying...more

Standing to Sue under the Fair and Accurate Credit Transactions Act after Spokeo

by K&L Gates LLP on

After paying for groceries with a credit card or debit card, the clerk hands the receipt to the customer. In addition to the last four digits of the card number, it contains the first digit. Or perhaps it contains the first...more

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