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Federal Deposit Insurance Corporation › Payment Processors

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Venable LLP

Georgia on the Mind: An Explainer for Payments Companies Considering the Merchant Acquirer Limited Purpose Bank Charter

Venable LLP on

In January 2024, one of the largest U.S. non-bank merchant acquirers announced that it is pursuing a special-purpose bank charter developed by Georgia. Although the “merchant acquirer limited purpose bank” (MALPB) has been a...more

Ballard Spahr LLP

Zelle offers details on its solution to protect scammed customers

Ballard Spahr LLP on

Last year, we blogged that Zelle was considering possible solutions for P2P customers on the Zelle Network who were the victims of scams. In an August 30, 2023 press release, Zelle announced that it was initiating new safety...more

Goodwin

Bitcoin and Bullets: An Unexpected Alliance

Goodwin on

At first blush, one might not expect the digital currency and firearm industries to have much in common – when was the last time you heard someone utter Bitcoin and guns in the same breath? Recently, however, the two...more

Davis Wright Tremaine LLP

FDIC Clarifies its Supervisory Approach to Payment Processor Relationships

Davis Wright Tremaine LLP on

The Federal Deposit Insurance Corporation (FDIC) recently released a letter clarifying its policy and supervisory approach for financial institutions that provide services to payment processors who, in turn, provide services...more

Eversheds Sutherland (US) LLP

Legal Alert: Georgia Department of Banking and Finance Publishes Proposed Regulations Regarding Chartering of Merchant Acquirer...

Eversheds Sutherland (US) LLP on

On July 31, 2013, the Georgia Department of Banking and Finance published its first set of proposed regulations to implement the Georgia Merchant Acquirer Limited Purpose Bank Act. The Act, which became effective on March 28,...more

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