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As contactless payment technology becomes more widespread, so do payment surcharges. In 2022, the Retail Payment System Act passed with the goal of reducing costs for businesses that accept card [...]

R. v. Bykovets, 2024 SCC 6 Read the case details Facts The appellant, Bykovets, was convicted of credit card fraud. During their investigation, law enforcement authorities obtained from Moneris, a [...]

Now that California's 'Honest Pricing Law' or 'Hidden Fees Statute' (SB-478) has been in effect for a few months, plaintiffs' firms are beginning to file class action lawsuits against restaurants, [...]

Recent Developments The Communiqué Amending the Communiqué (No. 2020/16) (the 'Communiqué') on Maximum Interest Rates Applicable to Credit Card Transactions (No. 2024/22) (the 'Amendment Communiqué') entered into force after being [...]

Businesses in Australia are prohibited from charging excessive payment surcharges for certain payment methods including Visa and MasterCard credit and debit cards and EFTPOS. Introduction Businesses can only pass on [...]

Context Our client is operating in India since 1964, has a well- established track record in the local financial markets. Incorporated in the US, the bank offers a comprehensive suite [...]

Grand Cayman, 1 May 2024 - Following extensive consultation with businesses, associations and government entities, the cost of local companies control license and processing fees - unchanged for 17 years [...]

HM Treasury policy note on delaying payments processing and draft amending regulations On 12 March 2024, HM Treasury published a near-final version of the Payment Services (Amendment) Regulations 2024, which [...]

Episode 7 of the Ad Law Tool Kit Show, 'Payment Processing,' is now available. Listen here, or search for it in your favorite podcast player. For retailers, a key, back-end [...]

1. Regulatory Updates 1.1. India 1.1.1. RBI targets P2P credit card payments via third-party apps In response to concerns over credit card misuse, the Reserve Bank of India ('RBI') is [...]

Episode 7 of the Ad Law Tool Kit Show, 'Payment Processing,' is now available. Listen here, or search for it in your favorite podcast player. For retailers, a key, back-end [...]

In a recent decision, Briskin v. Shopify, Inc., 2023 WL 8225346 (9th Cir. Nov. 28, 2023), the Ninth Circuit held that a Canadian-based company, Shopify, which provides a web-based payment [...]

Yesterday, the Federal Reserve Board announced proposed changes to Regulation II (Debit Card Interchange Fees and Routing), which is the implementing regulation of the Durbin Amendment to the Dodd-Frank Act. [...]

MGM Resorts recently endured a 10-day cyberattack that disrupted critical operations such as credit card processing, reservation systems, and gaming machines. Hotel guests resorted to using old-fashioned keys as room [...]

The United States Citizenship and Immigration Services (USCIS) handles all visa petitions, green card applications, and other immigration-related requests. Understandably, the agency is often inundated with a large volume of [...]

On April 24, 2023, a three-judge panel from the Ninth Circuit largely affirmed a district court's judgment following a bench trial that Epic Games, Inc., failed to prove its antitrust [...]

Introduction With the advancements made in payment systems space over the last few years, the purchase of goods and services is frequently done with the use of payment cards. Thus, [...]

The Banking Regulation and Supervision Agency ('BRSA') of Türkiye has recently published the Draft Regulation on Amending the Regulation on Debit Cards and Credit Cards ('Draft Regulation') to the opinion [...]

The health omnibus trailer SB-184, which created the Office of Health Care Affordability (OHCA), is set to usher in a significant change in California's health care regulatory landscape. Beginning in [...]

MasterCard has recently proposed changes to its credit card processing rules which, if implemented, will impact a broad range of 'merchants' including non-profits and charitable organizations. Given that these changes [...]

Most of the Federal Trade Commission's (FTC) law enforcement actions involving payment processors have exclusively focused on allegations that processors did not do sufficient due diligence before onboarding questionable merchants. [...]

Beginning August 1, 2022, United States Citizenship and Immigration Services (USCIS) will begin accepting Form I-907, Request for Premium Processing Service, for the following petitions which are pending with USCIS: [...]

On 02 June 2022, the Mauritian Financial Services Commission (FSC) confirmed the processing fees for Virtual Asset Service Providers and Issuers of Initial Token Offerings through the Financial Services (Consolidated [...]

AuthWallet asserted a patent directed to methods and systems for processing financial transaction data against Block. Specifically, the claims outline a method for processing financial transaction data using authorization requests [...]

On April 5, 2022, changes affecting the Canada's anti-money laundering legislation, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, S.C. 2000 c 17 (the 'PCMLTFA'), were published in [...]

On Thursday, November 19th, 2021, the Gaming Control Board ('Board') held a public workshop to discuss possible amendments to the Nevada Gaming Commission regulations regarding remote registration for wagering accounts [...]

On Thursday, November 19th, 2021, the Gaming Control Board ('Board') held a public workshop to discuss possible amendments to the Nevada Gaming Commission regulations regarding remote registration for wagering accounts [...]

...according to the newly published Decree on Confirmation and Collection of Taxes (Details on the Enforcement of the Obligation to Accept Payment by Card) 2021 of the Cyprus Ministry of [...]

On July 23, 2021, the Office of Foreign Assets Control ('OFAC') announced a settlement agreement with online money transmitter Payoneer Inc. ('Payoneer' or the 'company') for processing online transactions on [...]

The California Department of Financial Protection and Innovation (DFPI) has finally adopted final rules relating to the scope of the agent-of-a-payee exemption under the California Money Transmission Act (MTA), Cal. [...]

As the presidential election approaches, U.S. Citizenship & Immigration Services ('USCIS') has announced some potentially transformative regulatory changes. Likewise, the federal courts have also been active with litigation challenging the [...]

Uncle Sam just managed to dig out a quarter hiding in his couch. Or maybe his patience is just running thin with renouncers. On August 28, 2014, the United States [...]

Following hard on the heels of recent risk management actions taken by other federal agencies, the Office of the Comptroller of the Currency (OCC) has issued a thoroughly updated booklet [...]

On July 28, 2014, in response to growing pressure from Congress and the banking industry, the Federal Deposit Insurance Corporation (FDIC) issued Financial Institution Letter 41-2014 to clarify its supervisory [...]

Executive Summary: Effective January 1, 2014, companies involved in payment card processing must meet new data security requirements. The PCI Security Standards Council ('PCI SSC' or the 'Council') recently released [...]

The U.S. District Court for the Eastern District of California has held that the prohibition against requesting or requiring personal identification information in connection with credit card transactions contained in [...]

Edited by: Eric R. Fischer, Jackson B.R. Galloway and Elizabeth Shea Fries In This Issue: SEC and CFTC Adopt Rules to Address FCRA Requirements for Identity Theft Programs and Credit [...]

On December 14, 2012, the House of Representatives Committee on Oversight and Government Reform, Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs issued a scathing staff [...]

Standard Chartered Bank (SCB), a wholly owned subsidiary of Standard Chartered plc, a British bank, faces the possible loss of its New York banking license following accusations by the New [...]

Article by Linda Z. Swartz and Jean Marie Bertrand * I. TAX SHELTER REGULATIONS A. Overview Disclosure requirements for participants in 'reportable transactions.' List-maintenance requirements for 'material advisors' with respect [...]

VISA has dropped Global Payments, the payment processor, from its list of approved service providers following a data security breach that could potentially expose credit card details of up to [...]

Headlines 1. CFPB Considering New Rules to Regulate Mortgage Loan Origination 2. Final Stress-Testing Guidance Issued with Clarification for Community Banks 3. U.S. Supreme Court Overturns 2001 HUD Interpretation of [...]

Summary A recent case has established that banks will not be liable to customers for delays in processing transactions while waiting for clearance under UK anti-money laundering legislation. While the [...]

On March 31, 2012, Citizenship & Immigration Canada ('CIC') issued a news release regarding the further consideration of applications received under the Federal Skilled Worker immigration program ('FSW Program'). According [...]

In its recently issued Financial Institution Letter, FIL-3-2012, the Federal Deposit Insurance Corporation ('FDIC') updated the agency's November 2008 guidance on the potential risks to insured depository institutions of payment [...]

A new wave of consumer banking litigation and regulatory activity is anticipated as financial institutions introduce new products and increase fees to offset costs and lost revenue attributable to the [...]

The Department of Labor (DOL) has released its final rule on service provider fee disclosures. These disclosures are required pursuant to Section 408(b)(2) of the Employee Retirement Income Security Act [...]

On February 2, 2012, the U.S. Department of Labor (the 'DOL') issued final regulations under ERISA's 'necessary services' exemption (the 'Final Regulations'). The Final Regulations require that certain service providers [...]

It's been quite a week for important cases on TUPE and its operation in relation to administrations. The Court of Appeal has delivered two judgments which are of considerable importance [...]

The IRS announces that, pending further action by the DOL, indemnification arrangements described in AO 2011-09A will not be considered prohibited transactions. On December 12, the Internal Revenue Service (IRS) [...]