Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Federal Reserve Board Proposal to Lower Interchange Fee Cap for Debit Card Transactions
GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
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
Everyone loves the convenience of the ATM. However, having 24/7 access to your money may mean that scammers do, too. Recent data from the credit scoring company FICO shows there was a 70 percent increase in the number of...more
24 state attorneys general, the D.C. attorney general, and the Executive Director of the Hawaii Office of Consumer Protection have sent a joint comment letter to the CFPB urging it not to make any changes to the Regulation E...more
The Board of Governors of the Federal Reserve System (Federal Reserve) released its latest study on payments, documenting a continuing—and accelerated—“robust growth” in card payments....more
The FBI is warning banks to be on guard against possible attacks on ATMs. In an alert sent to banks on August 10th, the FBI warned banks that it had “obtained unspecified reporting indicating cyber criminals are planning...more
Earlier this month, the CFPB issued another report on checking account overdraft services, “Data Point: Frequent Overdrafts,” and four one-page prototype model forms to replace the current Regulation E model form for banks to...more
Some thoughts—from Chair Yellen, herself—about why, despite pretty strong economic indicators for a pretty long time now, the Fed hasn’t begun to raise rates again....more
In recent years, federal antitrust enforcers and businesses that accept payment cards have been waging a slow war against payment card fees and the card network rules that protect them. The payment card industry’s antitrust...more
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
An insured corporation settles a class action, and a portion of the settlement pays the plaintiffs’ attorneys. Payments to the class are excluded from coverage under the terms of the corporation’s liability policy. But can...more
Skimming continues to be a problem for ATM machines and law enforcement continues to try to combat the problem. Skimming devices are attached to credit and debit card and ATM machines in order to intercept debit and credit...more