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European Free Trade Association › Federal Reserve

The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven... more +
The European Free Trade Association is an intergovernmental organization established in 1960 to facilitate and promote free trade among its member states and as a counterbalance to the more politically-driven European Economic Community (EEC). The current member states of the EFTA are Liechtenstein, Iceland, Norway, and Switzerland.   less -
Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #2

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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

McGlinchey Stafford

Deep Dive into Payments: Q&A on Bank Partnership Considerations

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But upon closer consideration, there is an interplay between a bank partner program and the Electronic Fund Transfer Act (EFTA) as implemented by Regulation E, particularly when it comes to timeframes for disputes, liable...more

McGlinchey Stafford

FedNow®: A Payment Rail is Born

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The Federal Reserve launched its new real-time payments service, FedNow®, on July 20, 2023. This new instant payment rail settles consumer and business transactions through financial institutions’ Federal Reserve accounts....more

Ballard Spahr LLP

Democratic Senators send letter to federal banking agencies raising concerns about fraudulent transactions

Ballard Spahr LLP on

A group of five Democratic Senators have sent a letter to the Federal Reserve, OCC, FDIC, and NCUA asking them to take several steps to protect consumers from scams when using Zelle to transfer money....more

Wiley Rein LLP

Wiley Consumer Protection Download (October 17, 2022)

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Regulatory Announcements- FTC Announces Agenda for October 2022 Open Commission Meeting. On October 13, the FTC announced the agenda for its October 20, 2022 Open Commission Meeting. Specifically, the agency announced that...more

Perkins Coie

Fintech Week in Review - June 2021

Perkins Coie on

Federal Financial Regulators Extend Deadline for RFI on AI - On May 17, 2021, five financial regulatory agencies announced a deadline extension for the ongoing comment period on financial institutions’ use of AI from June...more

White & Case LLP

Consumer financial services: The road ahead: Payment processing

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The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems....more

Ballard Spahr LLP

DoD issues MLA interpretive rule

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The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. The much-anticipated guidance was...more

Katten Muchin Rosenman LLP

Federal Reserve Issues Clarification of Debit Card Interchange Rule in Response to Court Action

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On August 10, the Board of Governors of the Federal Reserve System (Board) clarified Regulation II (Debit Card Interchange Fees and Routing) regarding the inclusion of transaction-monitoring costs in the interchange fee...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest - Volume X, Issue 31

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SEC Division of Corporate Finance Issues New CD&Is Relating to General Solicitation and Regulation D - On August 6, the Staff of the Division of Corporate Finance of the Securities and Exchange Commission (Staff)...more

Goodwin

FinCEN and FRB Jointly Issue Final Rule Amending the Definitions of “Funds Transfer” and “Transmittal of Funds”

Goodwin on

On December 4, 2013, the Financial Crimes Enforcement Network (“FinCEN”) and the FRB jointly issued a final rule (the “Final Rule”) amending the definitions of “funds transfer” and “transmittal of funds” under the regulations...more

Morrison & Foerster LLP

Financial Services Report - Quarterly News, Fall 2013

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In This Issue: Beltway Report; Bureau Report; Privacy Report; Mobile Payments Report; Mortgage Report; Operations Report; Preemption Report; Arbitration Report; and TCPA Report. Excerpt from Beltway Report: ...more

Stinson - Corporate & Securities Law Blog

FTC Report On Interchange Fees Addresses Community Banks

Stinson - Corporate & Securities Law Blog on

The Dodd-Frank Wall Street Reform and Consumer Protection Act amended the Electronic Fund Transfer Act, or EFTA, to restrict interchange fees and to prohibit exclusive networks for debit card transactions. The Federal Trade...more

Katten Muchin Rosenman LLP

FinCEN, Federal Reserve Seek Comments on Bank Secrecy Act Definitions

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On November 29, the Financial Crimes Enforcement Network (FinCEN), a bureau of the US Department of the Treasury, and the Federal Reserve Board (Board) issued a notice of proposed rulemaking seeking comments on a proposal to...more

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