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
Mastercard sent cease and desist letters to payment processors and banks last week. These letters demanded certain financial service providers to stop allowing marijuana transactions on MasterCard debit cards....more
Join members of McDermott’s Global Privacy & Cybersecurity team and Alan Gutierrez-Arana of Mazars for the next installment in our PCI DSS 4.0 series. PCI DSS 4.0 brings major changes to payments with an increased focus on...more
On July 29, a payment processor company and its two sales affiliates (defendants) agreed to a stipulated order with the FTC to settle charges that they imposed hidden terms, surprise exit fees, and “zombie charges” on small...more
The laws and rules governing automatic renewal programs continue to change on a regular basis. Over the past year, the Federal Trade Commission has announced a number of settlements and lawsuits enforcing the federal Restore...more
As of January 1, 2020, California became the first state to permit residents whose personal information is exposed in a data breach to seek statutory damages between $100-$750 per incident, even in the absence of any actual...more
It’s getting difficult to keep up with the jargon of all of the new digital scams. The SaaSes in the beginning became regular business terms, such as Software-as-a-Service (SaaS), and Business Processes-as-a-Service (BPaaS)....more
Last week, the Tex-Mex restaurant chain On the Border suffered a data breach that impacted its payment acceptance systems in 27 states. The restaurant says that some credit card information of customers who visited the chain...more
After six years of deliberation, the Federal Reserve announced on Monday that it will develop a new interbank real-time gross settlement (RTGS) system. The Fed expects the system, called FedNow, to be operational in 2023 or...more
Payment processor/facilitator Allied Wallet, its CEO, and two other corporate officers, recently agreed to settle Federal Trade Commission (FTC) charges that they assisted or knowingly processed fraudulent transactions for...more
In a case arising out of the purchase by Great Hill Partners of Plimus (now known as BlueSnap, Inc.), the Delaware Court of Chancery, after a 10-day trial and extensive post-trial briefing and oral argument, recently rejected...more
Retailers are still feeling the pain from implementing EMV-compliant POS systems. An article by Kate Fitzgerald in the PaymentsSource Technology newsletter (August 8, 2017) caught our eye....more
Tucked away in a seeming innocuous paragraph in a complaint, the Consumer Financial Protection Bureau (CFPB) has asserted an extraordinary and potentially far-reaching expansion of its authority. On June 6, 2016, the...more
The EMV liability shift is coming. Sounds ominous, but what does it really mean? And how can retailers and merchants determine the potential impact of the shift on their business? Like many issues in the payment card...more
The Payment Card Industry Security Standards Council (PCI SSC) recently published updated PCI Card Production Security Requirements. Version 1.1 of the standards include new logical and physical security standards to protect...more
Why it matters - With the U.S. Supreme Court’s denial of certiorari, the Board of Governors of the Federal Reserve Board’s interchange rules will stand. The justices declined to hear an appeal from retailers without...more