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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +
A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous thirty days. less -
Womble Bond Dickinson

The Complexities and Costs of Eliminating Interchange Fees on Sales Tax Portions

Womble Bond Dickinson on

Illinois has become the first state to adopt legislation banning interchange fees on the tax amount and gratuity (tip) amount of a credit or debit payment transaction. The Illinois Interchange Fee Prohibition Act (IFPA)i,...more

Goodwin

2023 Year in Review: Credit, Debit, or Prepaid Cards and Consumer Banking

Goodwin on

Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We expect continued focus by the CFPB on “junk”...more

BakerHostetler

Crypto Products Launch in Custody, Web3 Wallets, Debit Cards, Stablecoins; Regulators Address Stablecoins; OFAC and DOJ Announce...

BakerHostetler on

Crypto Custody Providers Launch Institutional Focused Offerings - According to a recent press release by BitGo, a major U.S. cryptocurrency custody provider, BitGo’s GoNetwork and Copper’s ClearLoop have entered into a...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

Goodwin on

In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Cozen O'Connor

The State AG Report Weekly Update July 2019 #1

Cozen O'Connor on

Cannabis / Marijuana- Iowa Attorney General Issues Statement on Legality of Hemp and Cannabidiol Products- Iowa AG Tom Miller issued a statement regarding the legality of hemp and cannabidiol (“CBD”) products under state...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - June 2019 #3

Robinson & Cole LLP on

The attackers behind the vicious ransomware known as GandCrab have made their money (loosely estimated at over $2 billion) and are retiring. Most of us work for a living and then retire, but these guys steal money to retire....more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2019)

Hudson Cook, LLP on

This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more

Balch & Bingham LLP

Class Certification Denied for Data Breach Claim Brought by Bank Against Retailer

Balch & Bingham LLP on

Last week, the U.S. District Court for the Middle District of Alabama denied Southern Independent Bank’s (“Southern Independent’s”) motion for class certification following a data breach which allegedly affected over 2,000...more

Kilpatrick

Changes Ahead in the Consumer Card Payment Experience: JPMorgan Chase to Launch Contactless Cards

Kilpatrick on

The consumer card payment experience is about to undergo some transformative changes. Chase, the consumer banking division of JPMorgan Chase & Co., has announced that it will soon issue cards with a so-called contactless...more

Mitchell, Williams, Selig, Gates & Woodyard,...

FBI Warns of Impending Multimillion Dollar Global ATM Cashout, $13.5 Million Taken Already

Mitchell, Williams, Selig, Gates & Woodyard,... on

According to a confidential FBI alert reported upon by Krebs on Security last Friday, the FBI issued an alert to banks concerning what is called an Unlimited ATM Cashout, attacks of which are expected in the near future....more

Robinson+Cole Data Privacy + Security Insider

Cryptocurrency Debit Card Startup Founders Indicted

Robinson+Cole Data Privacy + Security Insider on

The U.S. Attorney’s Office in the Southern District of New York has announced that a federal grand jury has returned an indictment against three Florida men who co-founded cryptocurrency company Centra Tech, Inc. The...more

Jones Day

Protecting Your Identity After a Data Breach

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

Robinson+Cole Data Privacy + Security Insider

InterContinental Hotels Reports Credit Card Breach

Robinson+Cole Data Privacy + Security Insider on

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

McGuireWoods LLP

Eighth Circuit Undoes Target Data Breach Settlement Class

McGuireWoods LLP on

The $10 million settlement class in the Target data breach case was unraveled by the Eighth Circuit Court of Appeals in a recent decision that will force the district court to address the impact of the Supreme Court’s...more

Ballard Spahr LLP

Eighth Circuit Remands Proposed Settlement in Target Data Breach Class Action

Ballard Spahr LLP on

The Eighth Circuit Court of Appeals has remanded a $10 million settlement in the Target data breach class action on the grounds that the district court had not rigorously analyzed the propriety of the class certification. ...more

Robins Kaplan LLP

New FTC Data Breach Response Guidelines

Robins Kaplan LLP on

Cybersecurity should always be at the top of any retailer’s priority list—and even more so as the holiday shopping season gets underway. To that end, the Federal Trade Commission’s newly-released Data Breach Response...more

Manatt, Phelps & Phillips, LLP

Overdraft Service Program Costs Bank $10M in CFPB Fine

Manatt, Phelps & Phillips, LLP on

Overdraft services practices were the basis for a $10 million fine from the Bureau of Consumer Financial Protection (CFPB) in a recent action against a national bank operating primarily in the northeast....more

Stinson - Corporate & Securities Law Blog

CFPB Week in Review

Stinson - Corporate & Securities Law Blog on

The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank - ...more

Davis Wright Tremaine LLP

PCI DSS v. 3.2: New Requirements Coming to Protect Your Customers’ Wallets

Davis Wright Tremaine LLP on

The Payment Card Industry (PCI) Security Standards Council (PCI Council) released Version 3.2 of the PCI Data Security Standard (PCI DSS), containing several new requirements for merchants, acquirers, and other entities that...more

Neal, Gerber & Eisenberg LLP

Does Your Company Have Coverage for PCI Fines & Penalties in its Cyber Policy?

Neal, Gerber & Eisenberg LLP on

Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...more

Littler

Proposed Rule Would Radically Alter Use of Direct Deposit and Paycards in New York

Littler on

On June 15, 2016, the New York State Department of Labor (“NYSDOL”) published a proposed rule governing the permissible methods for an employer in New York to pay wages to employees. The most radical change is that all...more

Blake, Cassels & Graydon LLP

Year in Review: Legislation and Guidance for Financial Institutions in 2015

Blake, Cassels & Graydon LLP on

Financial institutions in Canada witnessed yet another year of significant growth in legislation and regulatory guidance impacting their operations, while the financial marketplace is continuing to adapt to the impact of...more

McNees Wallace & Nurick LLC

3rd Circuit Says: FTC Can Take Action Against Companies That Suffer Data Security Breaches

McNees Wallace & Nurick LLC on

Companies can be fined by the federal government for failing to properly safeguard consumer data, according to a decision this week by Pennsylvania's federal appellate court....more

Perkins Coie

Third Circuit Affirms FTC Authority to Police Whether Companies Have Reasonable Data Security

Perkins Coie on

Since at least 2005, the Federal Trade Commission has asserted that it may regulate lax data security practices as an “unfair” business practice under Section 5 of the FTC Act. The Wyndham hotel chain was the first to...more

Davis Wright Tremaine LLP

UPDATE: Third Circuit Affirms FTC’s Data Security Authority in Wyndham

Davis Wright Tremaine LLP on

The U.S. Court of Appeals for the Third Circuit released its much-anticipated ruling in Federal Trade Commission v. Wyndham Worldwide Corp. on August 24, 2015, unanimously upholding the FTC’s authority to regulate companies’...more

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