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Digital Platforms Payment Systems

Klein Moynihan Turco LLP

CFPB Targeting Gaming Industry?

On April 4, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a report (the “Report”) examining the potential risk to consumer assets and data in the online video game and virtual world spaces. The CFPB gaming...more

Paul Hastings LLP

CFPB Takes Steps to Supervise Digital Payments Apps

Paul Hastings LLP on

On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would allow it to exercise its supervisory authority over larger nonbanks offering digital consumer payment applications, such...more

BakerHostetler

FedNow Instant Payments Service Launches; GAO Recommends Oversight of Crypto Assets; SEC, CFTC, DOJ Continue Crypto Enforcement;...

BakerHostetler on

U.S. Central Bank Launches Instant Payment Service - A recent press release by the U.S. central bank announced that “its new system for instant payments, the FedNow® Service, is now live.” According to the press release,...more

Flaster Greenberg PC

Digital, Digital Break Down: How to Make Sure You’re *NSYNC with IRS Changes for Reporting Virtual Payment Transactions

Flaster Greenberg PC on

You may have seen recent headlines warning that the IRS is tracking certain transactions paid using digital payment services such as Paypal, Cash App, Zelle, and Venmo. Even worse, you may have wondered whether a new law...more

Hogan Lovells

PIX Launch

Hogan Lovells on

After the creation of a Brazilian instantaneous payment method earlier this year (“PIX”), on November 16, 2020, the Central Bank of Brazil (“BCB”) officially launched its new digital transfer and payment platform. The purpose...more

Morgan Lewis - All Things FinReg

French Competition Authority Consults on Fintech and Digital Payments Sector

The ADC has launched a public consultation on the fintech sector in France, in particular with regard to payment services. The consultation focuses on the two types of new players in the payments space: (1) the role of big...more

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