News & Analysis as of

Debit Cards

Unfair And Deceptive Trade Practices Claims In Data-Breach Lawsuits

by Ellis & Winters LLP on

Section 5 of the Federal Trade Commission Act provides a powerful tool for the federal government to regulate companies’ data-security practices. Rather than adopt specific data-security standards, the FTC often uses Section...more

Protecting Your Identity After a Data Breach

by Jones Day on

In light of recent high-profile breaches of highly sensitive data, this is a good time to remind individuals of how to protect their identity and credit information....more

Overdraft Protection Developments: Citing New Study, CFPB Issues Prototype Overdraft Disclosures

by Faegre Baker Daniels on

On August 4, 2017, the Consumer Financial Protection Bureau (CFPB) unveiled four prototype overdraft disclosure forms currently being tested to replace the existing model form. The CFPB developed the prototype forms based on...more

CFPB Unveils Disclosure Forms in Response to Overutilization of Overdraft Fees

by BakerHostetler on

On Aug. 4, the Consumer Financial Protection Bureau (CFPB) released the results of its study into frequent overdrafters and four overdraft disclosure model forms as part of its Know Before You Owe initiative. The CFPB...more

Prepaid Card Company to Pay $53M to Settle FTC Charges

A prepaid card company agreed to pay the Federal Trade Commission $53 million to settle charges that the company tricked consumers about access to their funds....more

Going Down For A Third Time – Barnes & Noble Consumer Data Breach Claims Are Dismissed Again for Lack of Injury

Despite some courts’ evident confusion about the impact of payment card theft on consumer cardholders, other courts are getting it right. Just this week, a judge in the Northern District of Illinois issued an order dismissing...more

Service Breakdown Costs Prepaid Card Company, Processor $13M

The Consumer Financial Protection Bureau (CFPB) entered into a Consent Order on January 31 with UniRush, a prepaid debit card company, and its processor over a breakdown in October 2015 that left RushCard holders unable to...more

FCAC Publishes First Decision Regarding Non-Compliance with Code of Conduct

On May 15, 2017, the Financial Consumer Agency of Canada (FCAC) published Commissioner’s Decision #126 (Decision) regarding non-compliance with the Code of Conduct for the Credit and Debit Card Industry in Canada (Code of...more

Pennsylvania Law Clarifies Use of Payroll Debit Cards

by Barley Snyder on

After initial confusion, employers may now legally use payroll debit cards to pay employees. While the courts have decried the practice as a violation of the state’s Wage Payment Collection Law, a new bill, signed by...more

Update: NYSDOL Appeals Decision to Invalidate Regulation for Employers Who Use Direct Deposit and Payroll Debit Cards

As expected, the New York State Department of Labor (DOL) recently appealed the decision of the New York Industrial Board of Appeals invalidating the DOL regulations concerning employers who use direct deposit or payroll...more

New York DOL Challenges Rescindment of Payroll Debit Card and Direct Deposit Regulations

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The New York Department of Labor has mounted a challenge to the successful appeal of its promulgated regulations governing payment to employees via payroll debit cards and direct deposit. The regulations...more

New Rules Regarding Paying Employees by Debit Cards TO TAKE EFFECT MAY 4, 2017

by Fisher Phillips on

The Pennsylvania General Assembly passed a law (Act 161) in November that amends the Pennsylvania Banking Code to permit the use of payroll debit cards, with certain conditions...more

Debit Card Swipe Fees Only Hurdle to Dodd-Frank Repeal?

by Fox Rothschild LLP on

Respecting a issue of great importance to the franchise community, Bloomberg Law this morning is reporting that repealing a cap on debit card transaction fees is the only issue holding up an otherwise unified Republican bill...more

Debit cards, Offshore Funds and a John Doe Summons

by Foodman CPAs & Advisors on

IRS remains committed to its priority efforts to stop offshore tax evasion wherever it occurs. It pursues cases in all jurisdictions of the world. Over the years, numerous individuals have been identified as evading US...more

Pennsylvania Law Allowing Employer Use of Payroll Debit Cards Takes Effect May 4

As we previously noted, the Pennsylvania General Assembly passed a law in November that amends the Pennsylvania Banking Code to permit the use of payroll debit cards, with certain conditions. ...more

InterContinental Hotels Reports Credit Card Breach

InterContinental Hotels Group (IHG) has reported a data breach of its payment card processing system. The breach involves malware that infected certain locations between September 29, 2016, and December 29, 2016. The malware...more

Federal Court: Computer Fraud Provision Does Not Cover Fraudulent Debit Card Transactions Conducted Over the Telephone

by McGuireWoods LLP on

Last month, the Northern District of Georgia issued a strongly pro-insurer decision holding that a policy insuring computer fraud did not provide coverage for $11.4 million in fraudulent debit card redemptions made over the...more

Financial Services Weekly News - April 2017 #2

by Goodwin on

Editor's Note - Removal for Cause or Business as Usual? On April 5, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the House Financial Services Committee to give his semi-annual...more

Pennsylvania Employers Can Pay Wages With Payroll Cards

by Weintraub Tobin on

Pennsylvania’s Wage Payment and Collection Law requires employers to pay all wages, other than fringe benefits and wage supplements, due employees on regularly scheduled paydays designated in advance by the employer in cash,...more

Employment Law - March 2017

Future of DOL's White Collar Overtime Rule Remains Unclear - Why it matters - The uncertainty surrounding the Department of Labor's (DOL) white collar overtime rule continues, with the agency requesting more time to...more

Payment of Wages Through Mandatory Debit Cards

by Tucker Arensberg, P.C. on

Some employers have begun to pay employee wages through issuing debit cards, rather than cash, check or direct deposit. Recently, the Pennsylvania Superior Court addressed a class action challenge by McDonald’s employees...more

NY Regulations on Wage Payment by Direct Deposit / Payroll Debit Cards Have Been Invalidated

The New York State Industrial Board of Appeals (the “IBA” or the “Board”) invalidated regulations scheduled to take effect on March 7, 2017, that would have enhanced the notice and authorization requirements for employers...more

2016 New York Employment Law Year In Review

2016 brought big changes for New York State and City employers, including expansive new discrimination protections and substantial increases in the minimum wage and exempt salary thresholds. While New York employers who...more

New York Wage Payment Regulations Are Revoked at the Eleventh Hour

by Reed Smith on

Recently, New York’s Industrial Board of Appeals (IBA) revoked regulations issued by the State’s Department of Labor (NYSDOL) governing employee wage payments via direct deposit and payroll debit cards, which were scheduled...more

Update: DOL Regulation for Employers Who Use Direct Deposit and Payroll Debit Cards Invalidated

by Mintz Levin on

On February 16, 2017, the New York State Industrial Board of Appeals invalidated and revoked the NYS Department of Labor regulations governing payment of wages by direct deposit or payroll debit card. The regulations were...more

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Cybersecurity

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