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Alston & Bird

The UK Introduces a New Reimbursement and Compliance Monitoring Regime for Authorised Push Payment Scams

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Our UK Financial Services Group examine the UK’s new mandatory reimbursement rules that will require payment service providers (PSPs) to reimburse victims of scam transactions....more

Foley & Lardner LLP

Thorny Laws That ICHRA Vendors Should Consider

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Individual Coverage Health Reimbursement Arrangements (ICHRAs) have continued to grow in popularity since their inception in 2019 (see our article here summarizing the 2019 rule establishing ICHRAs). While initially it seemed...more

Arnall Golden Gregory LLP

Business Account Takeover Fraud: Pursuing the Platform Is Rarely the Answer

Business account takeover (“ATO”) fraud occurs where a threat actor gains access to a business account on a payments platform (e.g., a payroll or accounts payable tool) or fraudulently creates such an account and engages in...more

Guidepost Solutions LLC

Money Laundering, Terrorist Financing, and Investment Advisors – Yes, Financial Crime is Borderless and Legal Entity-Agnostic

There is a growing acknowledgement that money laundering and terrorist financing is borderless and legal entity-agnostic, just as it is already known that cybercriminals and the means to commit cybercrimes continuously attack...more

McDermott+

COVID-Era Flexibilities Granted in Wake of Change Healthcare Cybersecurity Attack

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Today marks one month since United Health Group’s (UHG) Change Healthcare reported that it had been hit by a cybersecurity attack. The attack has caused a major disruption to the US healthcare system, significantly impacting...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, March 2024

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Key developments of interest over the last month include: the UK government publishing draft legislation on payment service contract termination rule changes; the Central Bank of Ireland providing insights into its regulatory...more

ArentFox Schiff

Health Care Providers Navigate Fallout of Major Cyberattack on Change Healthcare

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Change Healthcare, an affiliate of Optum and UnitedHealth Group, processes more than 15 billion health care transactions annually and touches one of every three patient records. On February 21, Change disconnected its...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, February 2024

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Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more

WilmerHale

FTC Announces Enforcement Action Against Global Tel*Link Corporation for Unfair Data Security Practices and Inadequate Data Breach...

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On November 16, the Federal Trade Commission (FTC) announced an enforcement action against Global Tel*Link Corporation and two of its subsidiaries (collectively, “GTL”), which provide communications and payment services to...more

K&L Gates LLP

Brussels Regulatory Brief: November 2023

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Antitrust and Competition - European Commission Approves Consolidation in the Ground Transportation Sector Subject to Remedies - The companies are two global suppliers of signalling systems for mainline and urban railway...more

Gardner Law

Compliance Considerations in High-Tech Healthcare

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Cutting-edge technology is desirable to consumers for its ability to deliver innovative solutions, improved efficiency, enhanced user experiences, and the promise of staying ahead in an ever-evolving digital landscape. The...more

Holland & Knight LLP

New Artificial Intelligence Executive Order Contains Numerous Healthcare Implications

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President Joe Biden on Oct. 30, 2023, signed a sweeping executive order (EO) and invoked the Defense Production Act to establish the first set of standards for using artificial intelligence (AI) in healthcare and other...more

Butler Snow LLP

Prior Authorization Reform in Healthcare: Winds of Change?

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Bob Dylan, winner of the Nobel Prize in Literature and one of the greatest American songwriters of all time, has effectively used wind as a metaphor in a number of songs he has written, each with its own distinct message....more

Polsinelli

Will There Be a Ripple Effect? Federal Judge Rules Some Sales of XRP Were Not Securities Transactions

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The long battle between the U.S. Securities and Exchange Commission (“SEC”) and Ripple reached a partial resolution with the Court ruling the digital asset at issue (“XRP”) is not itself a security and certain sales of the...more

K2 Integrity

As Cryptocurrency Becomes More Mainstream, Payment Scam Risks Increase

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Payment scams exploiting the lure of cryptocurrency are a growing concern for individuals and businesses—losses from crypto scams increased from $907 million in 2021 to $2.57 billion in 2022. These scams typically involve...more

Seward & Kissel LLP

[Webinar] FinTech Forum: Emerging Trends in the Legal and Regulatory Landscape - May 18th, 1:30 pm - 5:30 pm ET

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Seward & Kissel and The Berkeley Center for Law and Business invite you to the inaugural FinTech Forum, which will be held Thursday, May 18, 2023. The event will highlight emerging trends in the legal and regulatory...more

Wilson Sonsini Goodrich & Rosati

Building a Payment Rail: Key Legal Considerations for Technology Platforms and Online Marketplaces

As marketplaces have become digital and more technology platforms are integrating payment solutions into the customer experience, there has been increased interest among technology companies in potentially becoming money...more

Wilson Sonsini Goodrich & Rosati

Innovations in Payments: Regulation, Infrastructure, and Opportunities

Much is written about revolutionary developments in payments, but the reality of progress in such a complex area is that it is often evolutionary. Legislators, regulators, and industry have been working incrementally to...more

Orrick, Herrington & Sutcliffe LLP

Fed to launch FedNow in July

On March 15, the Federal Reserve Board announced a July launch date for its FedNow Service. Beginning the first week of April, the Fed will start formally certifying participants...more

Goodwin

The FCA’s 2023/24 Priorities for UK Payments: Firms and Investors, Take Note

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On March 16, 2003, the UK Financial Conduct Authority (FCA) published its letter Portfolio Letter: FCA priorities for payments firms to the CEOs of UK Payment Institutions (PIs), Electronic Money Institutions (EMIs), and...more

American Conference Institute (ACI)

[Event] 7th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - April 18th - 19th, New York, NY

Join American Conference Institute at the 7th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems on April 18-19, 2023, in New York! Gain key insights into the hurdles arising amid...more

Hogan Lovells

Global Payments Newsletter, January 2023

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Key developments of interest over the last month include: the UK Treasury publishing a review and call for evidence on the Payment Services Regulations 2017 and a post-implementation review of the Payment Card Interchange Fee...more

Wilson Sonsini Goodrich & Rosati

Big Tech’s Competition Impacts on Payments and Retail Finance in Regulatory Spotlight

The UK Financial Conduct Authority (FCA) recently published a discussion paper (here) summarizing its preliminary findings on the potential competition impact of Big Tech entry into retail financial services. The FCA is now...more

Sands Anderson PC

Legal Ethics Update: The Virginia Supreme Court Approves Acceptance of Cryptocurrency as an Advance Payment for Legal Services

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The Virginia Supreme Court approved on September 19, 2022, Legal Ethics Opinion 1898, which permits a lawyer’s receipt of cryptocurrency as an advance payment for legal services. Notwithstanding the relative novelty of the...more

Hogan Lovells

[Webinar] State of Crypto Market in Argentina and Lessons from the US and Europe - September 21st, 10:00 am - 11:30 am ET

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Blockchain technology, decentralized finance, and new forms of cryptoassets have a transformational impact on the financial market as we know it. Despite early adoption of cryptocurrencies in Argentina, its central bank is...more

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