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Consumer Financial Products Financial Services Industry Merchants

Alston & Bird

Merchant Plaintiffs Reach Settlement in Payment Card Interchange Fee and Merchant Discount Antitrust Litigation

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Our Financial Services Group summarizes the closely observed preliminary settlement agreement over the fees credit card companies and banks charge merchants....more

Venable LLP

CFPB Proposes “Larger Participant” Rule to Supervise GeneralUse Digital Consumer Payment Applications

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The Consumer Financial Protection Bureau (CFPB) has proposed a rule to define a market for general-use digital consumer payment applications. Larger participants in this market would be subject to CFPB supervision and...more

Ballard Spahr LLP

CA DBO concludes certain point-of-sale financing arrangements are loans, not credit sales

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On December 30, 2019, the California Department of Business Oversight (DBO) announced two actions regarding companies offering unregulated, point-of-sale financing to California residents.  In the first action,  the DBO...more

Ballard Spahr LLP

PayPal files lawsuit against CFPB challenging prepaid card rule

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PayPal filed a lawsuit against the CFPB last week in the D.C. federal district court seeking to invalidate the Bureau’s prepaid card rule (“Rule”).  The Rule became effective on April 1 of this year....more

Troutman Pepper

Bankruptcy Recourse in MCA Agreements

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In preparing a merchant cash advance (MCA) agreement on behalf of the provider, there is constant tension between the urge to include every conceivable contractual right for protecting the provider’s economic interests and...more

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