GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
The Alabama Department of Revenue (“AL DOR”) published helpful guidance on January 28 regarding “recent updates to the United States Postal Service (“USPS”) procedures that may affect postmark dates on mailed tax returns,...more
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Effective February 6, 2026, Customs and Border Protection (“CBP”) will issue refunds electronically via Automated Clearing House (“ACH”). This rule change will affect all refunds, subject to limited exceptions (e.g., certain...more
On December 4, the Fed announced the pricing for certain payment services provided by the Federal Reserve Banks, e.g., the clearing of checks, ACH transactions, instant payments, wholesale payment and settlement services,...more
Morrison Foerster’s State and Local Government Task Force is pleased to provide our bimonthly newsletter summarizing some of the most important and interesting developments from state attorneys general (“State AGs”) across...more
Last week, a coalition of retail and restaurant trade associations sent a letter to leaders of congressional banking committees urging them to enact national legislation to allow them to round cash transactions to the nearest...more
In the wake of complex high-deductible plans, many health care providers request that patients provide credit card information, which the provider securely stores and later processes based on its communicated policies and...more
On March 25, President Donald Trump signed Executive Order 14247, “Modernizing Payments to and from America’s Bank Account.” The order takes effect Sept. 30 and requires all federal agencies using the United States Treasury...more
The IRS is officially moving away from paper check refunds. Effective September 30, 2025, the IRS will no longer issue tax refunds in the form of paper checks. Instead, the IRS will only issue tax refunds in the form of...more
On August 29, 2025, U.S. Citizenship and Immigration Services (USCIS) announced that, after October 28, 2025, they will only accept electronic payment, either ACH debit transactions (using Form G-1650) or credit card payments...more
Le 21 août 2025, Paiements Canada a publié un guide intitulé Système de paiement en temps réel – Guide de participation pour les fournisseurs de services de paiement (le « guide »), lequel apporte des précisions sur le...more
The Markets in Crypto-Assets Regulation (MiCAR) is the first standardized legal framework for the issuance and trading of crypto assets. Initial measures taken by BaFin show how regulatory requirements are already being...more
Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses...more
Key developments of interest over the last month include: the U.S. Consumer Financial Protection Bureau's decision to restart the open banking rulemaking process; the UK FCA's publication of a policy statement with final...more
The practice of charging consumers a fee for paying via credit card — known as surcharging — has been both increasingly common and increasingly controversial over the last decade. Visa and Mastercard first began to allow...more
Once parties reach a settlement agreement in a class action or consolidated litigation, the primary focus often shifts to launching the settlement program and swiftly distributing funds to eligible claimants. However, during...more
Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more
Using the Congressional Review Act, the Senate has voted to nullify a CFPB final rule that would subject large cash apps to the bureau’s supervision....more
On February 27, Texas State Senator José Menéndez (D) introduced Senate Bill 1736, a piece of legislation aimed at regulating convenience fees associated with electronic payments for motor vehicles. SB 1736 would allow such...more
In the waning days of the Biden Administration, the Consumer Financial Protection Bureau (CFPB) on Jan. 10, 2025, issued a proposed interpretive rule that would provide a framework for determining when the Electronic Fund...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Frontier Required to Clean Up Hazardous Waste Disposal...more
HM Treasury has published its letter inviting Adam Plainer to lead an independent review of the Payment and Electronic Money Institution Insolvency Regulations 2021 (PESAR)...more
On December 10, 2024, the Consumer Financial Protection Bureau (CFPB) published a final rule (“Final Rule”) to supervise large providers of digital wallets and payment apps. Specifically, the Final Rule, entitled Defining...more
The CFPB has issued a final rule to supervise large nonbank financial services providers that offer general-use digital consumer payment applications such as digital wallets and peer-to-peer payment apps....more
On November 8, 2024, the California Privacy Protection Agency (CPPA) Board voted to adopt new regulations for data broker registration requirements. The CPPA Board also voted to advance proposed rules for insurance companies,...more