On July 26, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against a point-of-sale financing company and its former chief executive officer in the United States District...more
Yesterday, the Consumer Financial Protection Bureau (CFPB) released an interpretive rule stating that “Buy Now, Pay Later” (BNPL) providers are “card issuers” and “creditors” under the federal Truth in Lending Act (TILA) and...more
Consumers often are able to effect transactions by providing payment authorization ahead of time. How often a consumer may authorize a prescheduled transaction differs slightly under Regulation E and the National Automated...more
Customer donation programs work. Although consumer fatigue with answering round-up and add-a-dollar prompts is on the rise, these point-of-sale fundraising campaigns have become effective tools for nonprofits to fundraise and...more
Get ready for a game-changer in tip reporting compliance! The Treasury Department and IRS have just announced the proposed launch of the Service Industry Tip Compliance Agreement (SITCA) program. SITCA is a voluntary...more
Gone are the days of pulling into the corner gas station and running over a faded red hose to ring a bell, which in turn alerts the station owner, whose feet are sticking out from under a vehicle in the garage, that he has a...more
The Internal Revenue Service (IRS) is proposing a new voluntary program, referred to as the Service Industry Tip Compliance Agreement (SITCA) program, for employers in service industries to avoid paying the employer’s share...more
The rules require internet service providers (ISPs) to prominently display labels disclosing information about broadband prices, rates, data allowances and broadband speeds. The Order also includes a Further Notice of...more
The FCC will require fixed and mobile internet service providers (ISPs) to prominently display information about their internet service access plans in the form of consumer labels that resemble food nutrition labels. The...more
The Payment Systems Regulator (PSR) has published a policy statement containing its final decision on remedies for its card-acquiring market review, with three specific directions to put them into effect. The specific...more
*This alert was originally published on January 28, 2022 and updated on February 4, 2022. On January 27, 2022, the Federal Communication Commission (FCC or Commission) moved to implement a provision of the bipartisan...more
Due to its concerns that card-acquiring services might not be offering value for money for merchants, the PSR decided to conduct a comprehensive review of the card-acquiring sector focussing on the impact of competition and...more
The explosive growth of “buy now pay later” (BNPL) products is a staple of the fintech news cycle. The model, which gained popularity with point-of-sale financing options offered by straight play providers such as Affirm,...more
A leading online payments system platform that offers point-of-sale (POS) financing reports it received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) for allowing educational...more
On July 12, 2021, the Consumer Financial Protection Bureau (CFPB) issued a consent order (the Consent Order) against a Fintech company that facilitates home improvement loans (the Fintech). The CFPB claims that the Fintech...more
The Small Business Association (SBA) announced earlier today that Clover, NCR Corporation, Square and Toast will be among the official first round of technology partners for the RRF grant application....more
Last week, in a 26-page opinion, the 11th U.S. Circuit Court of Appeals weighed in on two questions crucial to the viability of privacy and data breach litigation in federal court—and perhaps even in general. First, does a...more
On October 28, 2020, the Eleventh Circuit Court of Appeals issued a split (7-3) en banc decision applying Spokeo principles to a claim that a vendor issued a receipt that included more digits from the plaintiff’s credit card...more
The Connecticut Department of Labor (CTDOL) has issued new and revised regulations regarding the state’s tip credit law. The final regulations greatly clarified some aspects of the existing regulatory language that had led to...more
Card-acquiring services: PSR interim report - The Payment Systems Regulator (PSR) has published its interim report on the supply of card-acquiring services. The PSR's market review follows concerns that the supply of...more
On April 22, 2020, the California Department of Business Oversight (DBO) announced a settlement with a point-of-sale lender that offered consumers a “buy now, pay later” option for payment. ?The DBO alleged that these...more
Report on Patient Privacy 20, no. 2 (February 2020) - A ruling from Georgia’s highest state court could set a precedent that determines recourse for victims of cyberattacks. The Georgia Supreme Court ruled in late December...more
Researchers at Sentinel One and Dragos have detected malicious code, called EKANS or Snake, that has been designed specifically to target industrial control systems (ICS), including those of oil refineries, manufacturing...more
A point of sale vendor for at least three cannabis dispensaries in the United States exposed the personal data of at least 30,000 cannabis users, including full names, photo IDs, dates of birth, telephone numbers, home...more
Probably not. Point of sale systems typically collect and retain inherently “personal information” as defined by the CCPA, such as the customer’s name, address, phone number, email, and payment information....more