News & Analysis as of

Financial Services Industry Retailers

Ballard Spahr LLP

CFPB Takes Aim at Cash Back Fees

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Some dollar store chains and other retailers now are charging consumers for obtaining cash back on debt or prepaid card purchases—transactions that generally have been free in the past–the CFPB reported....more

Orrick, Herrington & Sutcliffe LLP

CFPB report targets cash-back fees at retailers

On August 26, the CFPB published a report regarding cash-back fees that some retailers charge for consumers to access cash via the consumers’ debit or prepaid cards. According to the CFPB, such fees have become more prevalent...more

Troutman Pepper

Arbitration Clause Rendered Illusory and Unenforceable by Unilateral Amendment Clause, Says Virginia Federal District Court

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In a recent decision, the U.S. District Court for the Eastern District of Virginia denied a retailer’s motion to compel individual arbitration of a claim brought in a putative class action lawsuit. The complaint alleges that...more

BCLP

CFPB Applies Consumer Credit Card Protections to Buy Now, Pay Later Plans

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Buy Now, Pay Later (“BNPL”) payments are often presented by retailers and BNPL lenders to consumers as an alternative to traditional credit card payments. After close scrutiny of industry practices for several years, the...more

Womble Bond Dickinson

[Webinar] Innovation Interchange Summit: The Power Of Cross-Industry Insight - May 16th, 11:00 am - 4:00 pm ET

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Powerful ideas emerge when you look at something through a completely different lens. And when two parties come together to share those unique perspectives? That’s when the magic happens. Womble Bond Dickinson’s virtual...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - February 2024

Securities Class Actions Show No Signs of Slowing in 2024 - Key Points - While the volume of securities class actions filings has remained consistently elevated over the past several years, the composition of the class...more

Troutman Pepper

Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast

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In this episode of Payments Pros, Keith Barnett is joined by James Stevens to discuss the Merchant Acquirer Limited Purpose Bank Charter (MALPB) in Georgia, a unique charter that allows companies to offer merchant payment...more

Mitratech Holdings, Inc

What is Recruitment Marketing Software?

Are you struggling to attract, engage, and hire top talent for your organization? As the war for talent rages, traditional recruitment methods may no longer be enough. That’s where recruitment marketing software comes in....more

Katten Muchin Rosenman LLP

New York Will Soon Require Merchants to Provide Additional Credit Card Surcharge Disclosures

On December 13, 2023, New York Governor Kathy Hochul signed into law Assembly Bill 2672, which has significant implications for merchants in that it imposes disclosure requirements with respect to credit card surcharges for...more

Troutman Pepper

Washington AG Ordered to Pay $4.3M in Attorney’s Fees and Costs to Thrift Store Chain

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On October 17, following Washington Attorney General (AG) Bob Ferguson’s unsuccessful consumer protection action against thrift store chain, Savers Value Village Inc. (Savers), the Washington Superior Court of King County...more

Seyfarth Shaw LLP

The Week in Weed: October 2023

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we have an update on the SAFER Banking Act. We note that New York took a step towards issuing licenses for...more

Goodwin

CFPB Deems Merchant Cash Advances to Be “Credit” Under ECOA

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The Consumer Financial Protection Bureau’s adopting release for its small business data collection and reporting rule goes beyond that rule by including a discussion deeming merchant cash advances to be “credit” more...more

Hogan Lovells

Key takeaways from the retail buzz coffee chat with the Hogan Lovells NY team (UPDATED)

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On 28 March 2023, the Hogan Lovells New York Retail Team hosted a coffee chat webinar discussing the latest news and developments of 2023 in retail. The event featured Meryl Bernstein (Intellectual Property, Media, and...more

Hogan Lovells

Big Tech and retail financial services: FCA starts discussion on competition benefits and risks

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The FCA has published a discussion paper on the potential competition impacts of Big Tech entry and expansion in retail financial services. The particular focus is on payments, deposit taking, consumer credit and insurance....more

Dunlap Bennett & Ludwig PLLC

CLIMBing to a SAFEr high? Are we finally headed towards safe banking for cannabis businesses?

As more states legalize cannabis, license businesses, and regulate product (not to mention engorge tax coffers), entrepreneurs and customers in ‘legal’ states continue to confront fundamental questions often left in the...more

J.S. Held

Current Trends in Banking for Cannabis-Related Businesses (CRBs)

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Weed, pot, reefer, Mary Jane, ganja – cannabis has as many slang names as it does methods of ingestion. No matter which name is used, cannabis is federally illegal and is included on Schedule 1 of the Controlled Substances...more

Robins Kaplan LLP

Financial Daily Dose 11.24.2020 | Top Story: Biden Taps Former Fed Chair Yellen as Treasury Pick

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Former Fed Chair Janet Yellen is “poised to become the first female Treasury secretary and one of few people to ever have wielded economic power from the White House, the Federal Reserve and the president’s cabinet.” If...more

Robins Kaplan LLP

Financial Daily Dose 10.12.2020 | Top Story: Court Rules Apple Doesn’t Have to Offer Fortnite in App Store

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Big Friday win for Apple in its ongoing battle with Epic Games, as N.D. Cal. Federal Judge Yvonne Gonzalez Rogers ruled that Cook & Co. didn’t “need to reinstate the popular video game Fortnite in its App Store,” a blow to...more

Robins Kaplan LLP

Financial Daily Dose 9.23.2020 | Top Story: Fed Chair Calls for More Covid-Related Stimulus From Congress

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The latest from Fed Chair Powell and Treasury Secretary Mnuchin’s first of several days on the Hill, including their take that the economy is improving but that continued fiscal support—from the Fed and from Congress—was...more

Womble Bond Dickinson

Contactless Layaway Payment Options Thrive in Coronavirus Economy

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With consumers reluctant to use cash in the COVID-19 pandemic, a newer form of purchase financing has gained traction with retailers and payment providers. Purchasers are finding alternatives to building significant credit...more

Morgan Lewis

Sainsbury’s Wins Landmark Interchange Fee Litigation Victory in UK Supreme Court

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On June 17, 2020, the UK Supreme Court handed down its judgment in the appeals on the lawfulness of multilateral interchange fees, or swipe fees, (MIFs) in Sainsbury’s Supermarkets Ltd (Respondent) v. Visa Europe Services LLC...more

Perkins Coie

COVID-19: Reserve Issues in Credit Card Processing Agreements

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COVID-19’s effect on the economy does not discriminate. Business activity has slowed down significantly for many companies, and even more drastically in certain sectors. Some of the industries that have been hit the hardest...more

Seyfarth Shaw LLP

The Week in Weed: May 2020 #5

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The news is mostly happening in the states this week. Oklahoma is having some medical marijuana issues. Massachusetts recreational shops reopened. Virginia decriminalized marijuana. Ohio may not put cannabis on the ballot...more

Seyfarth Shaw LLP

Initial Government Guidance on Steps New York Landlords Should Take to Protect Health and Safety

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Many landlords of commercial and residential buildings in New York City have been looking into possible ways to address the health and safety of individuals at their premises. Although New York courts have not yet weighed in...more

Seyfarth Shaw LLP

If Pain, Yes Gain—Part 84: New York State Paid Sick Leave Law Signed

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Seyfarth Synopsis: New York’s paid sick leave law, applicable to employers of all sizes, goes into effect on September 30, 2020, permitting employees to use sick leave beginning January 1, 2021. ...more

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