Newsletters

08.14.19

Payment Processor Faces Joint Federal, State Action

The Federal Trade Commission (FTC) and the Ohio attorney general have sued a payment processor arising from activities that allegedly enabled its merchant customers to defraud consumers.


06.19.19

Retailer Wins Lawsuit Against Its Merchant Processor

Are assessments from the credit card networks damages that a merchant should be liable for under its merchant agreement?


04.10.19

New Jersey Outlaws Bans on Cash

New Jersey has officially banned cashless establishments, prohibiting merchants from requiring customers to pay by card or refusing to accept cash.


03.27.19

Third Circuit Snares Passive Debt Buyers in FDCPA

Passive debt buyers are debt collectors under the Fair Debt Collection Practices Act (FDCPA) if their “principal purpose” is buying debt, even if they outsource collections, the U.S. Court of Appeals for the Third Circuit has ruled, broadening liability under the statute.


03.27.19

Madden Litigation Sputters Out With Settlement

After eight years of litigation—and a major ruling from the U.S. Court of Appeals for the Second Circuit that has spawned uncertainty and a chilling effect for lenders—the parties in Madden v. Midland Funding have reached a deal that would bring the case to a close.


02.14.19

N.Y. Court Signs Off on New Deal Between Networks, Merchants

A New York federal judge granted preliminary approval of the second attempt at a settlement between a class of more than 12 million merchants and two card networks, potentially putting an end to the long-running litigation over interchange fees and various card network rules that apply to merchants ...


01.16.19

Federal Reserve Documents Growth in Card Payments

The Board of Governors of the Federal Reserve System (Federal Reserve) released its latest study on payments, documenting a continuing—and accelerated—“robust growth” in card payments.


01.16.19

State AGs Deal With Payment Processor, Mobile Apps

In state enforcement news, Massachusetts Attorney General Maura Healey announced a settlement with a California-based payment services provider, while New York Attorney General Barbara Underwood reached a deal with five companies related to security vulnerabilities in their mobile apps.


01.15.19

U.S. Sanctions Enforcement Against Foreign Financial Institutions Continues

While major enforcement actions against foreign banks for U.S. sanctions violations appear to have ebbed over the past three years, the recent settlement of sanctions-related claims, which included imposition of $1.34 billion in forfeitures and penalties, against a large foreign bank is a reminder ...


12.19.18

Merchant Cash Advances on the Hot Seat

Could investigative reporting into merchant cash advances lead to enforcement action against companies that make these advances, or to potential legislation to ban certain practices inherent in this industry?