Regulation Through Enforcement: Insights From the BlueSnap Lawsuit — Payments Pros: The Payments Law Podcast
On May 1, 2024, the FTC filed suit against BlueSnap, an international payment facilitator, along with two of its executives, simultaneously submitting a stipulated order containing both monetary and non-monetary relief. The...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
Yesterday, the Federal Trade Commission (FTC) moved to dismiss its long-running enforcement action against Electronic Payment Solutions (EPS) pending in the District of Arizona after the Commission voted 4-0 to approve a...more
On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade...more
On March 3, 2021, the CFPB filed a lawsuit in the U.S. District Court for the Northern District of Illinois against BrightSpeed Solutions, Inc., a third-party payment processor, and Kevin Howard, BrightSpeed’s founder and...more
This survey summarizes several recent developments affecting bank deposits and payment systems. These include payments-related consent orders and enforcement actions by the Consumer Financial Protection Bureau (“CFPB”) and...more
A payment processor and its individual owner have entered into a settlement with the FTC to settle charges that they violated a 2009 federal district court order that required them to review and monitor their merchant clients...more
On July 26, 2018, the FTC testified before two subcommittees of the U.S. House Committee on Oversight and Government Reform regarding the FTC’s continued focus on payment processors....more
The CFPB has obtained a default judgment in the lawsuit it filed in October 2017 in Maryland federal district court against two commonly-owned debt relief companies, their affiliated payment processor, and three individual...more
In the latest chapter of its “comprehensive effort to prevent consumer harm in the debt-settlement industry,” the CFPB has announced the settlement of an enforcement action brought against “a leading debt-settlement payment...more
In May, we highlighted the FTC’s notice of proposed rulemaking that proposed changes to the Telemarketing Sales Rule (TSR) (16 CFR 310). The NPRM included a proposed ban on the use of certain “novel” payment methods in all...more
In May, the Federal Trade Commission issued a Notice of Proposed Rulemaking concerning possible amendments to the Federal Telemarketing Sales Rule, which would prohibit sellers and telemarketers from accepting remotely...more
The Federal Trade Commission has proposed changes to its telemarketing sales rule (TSR) that would prohibit sellers and telemarketers from accepting or requesting remotely created checks or payment orders, cash-to-cash money...more
The Federal Trade Commission (“FTC”) announced today that it is seeking public commentary on proposed changes to the Telemarketing Sales Rule (“TSR”) that would ban the use of the following types of payments by telemarketers...more