News & Analysis as of

State Attorneys General Payment Processors

Sheppard Mullin Richter & Hampton LLP

Social Casino Sweepstakes Model is Under Fire – What Game Companies, Payment Processors and App Stores Need to Know

Social casino games remain incredibly popular and profitable. This success has drawn attacks from plaintiffs’ class action lawyers in the form of gambling loss recovery lawsuits and other consumer-based actions. Some have...more

Troutman Pepper Locke

30 States Urge Ninth Circuit to Reinstate Data Privacy Lawsuit

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In an unusual move, attorneys general (AG) from 30 states and the District of Columbia filed a bipartisan amicus brief in the Ninth Circuit supporting efforts to revive a proposed class action against payment processor...more

Hudson Cook, LLP

"OVER THE LINE!"  Where Banking and Gaming Intersect, the CFPB Has Something to Say.

Hudson Cook, LLP on

The line between virtual and reality is getting thinner. Gamers pay gaming companies real currency for virtual in-game currency to buy skins, create the world they want to live in (virtually), or purchase loot that aid in...more

Troutman Pepper Locke

State AGs and State Money Transmission Regulators Settle With Payment Processor Over Unauthorized Mortgage Withdrawals

Troutman Pepper Locke on

On October 17, 52 state and territorial attorneys general, in addition to state money transmission regulators, entered into settlements amounting to more than $20 million with ACI Worldwide (ACI), to resolve claims involving...more

Cozen O'Connor

CFPB Advisory Opinion Bans Debt Collectors from Charging Unauthorized Convenience Fees

Cozen O'Connor on

The CFPB issued an Advisory Opinion affirming the agency’s position that federal law generally prohibits debt collectors from charging “convenience fees” on consumers making payments, and providing guidance to the fees that...more

Cozen O'Connor

The State AG Report – 1.20.2022

Cozen O'Connor on

Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Student Loan Servicer Agrees to Cancel $1.7...more

Cozen O'Connor

Payment Processor Banned From Industry for Allegedly Helping Telemarketers Defraud Consumers

Cozen O'Connor on

The CFPB reached a settlement with payment processor BrightSpeed Solutions Inc. and its founder (collectively, “BrightSpeed”) to resolve allegations that it knowingly assisted companies in defrauding consumers by knowingly...more

Cozen O'Connor

Colorado Repeals Ban On Credit Card Surcharges

Cozen O'Connor on

Colorado Governor Jared Polis signed into law a bipartisan bill repealing the state’s prohibition on credit card surcharges...more

Cozen O'Connor

Payment Processor Caught In The Web Of Allegedly Illegal “Free Trial” Scheme

Cozen O'Connor on

Consumer Protection- Payment Processor Caught in the Web of Allegedly Illegal “Free Trial” Scheme- The FTC reached a settlement with overseas payment processor SIA Transact Pro and its former Chief Executive Officer...more

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