As we have previously explored, litigation involving account takeovers (“ATOs”) and business email compromise (“BEC”) fraud have produced a muddled legal landscape. As between payors and intended payees, courts have tended to...more
1/27/2025
/ Banks ,
Business E-Mail Compromise (BEC) ,
Business Litigation ,
Contract Terms ,
Cybersecurity ,
Financial Institutions ,
Fraud ,
Merchants ,
Payment Processors ,
Payment Systems ,
Risk Management
Fiserv’s journey to obtain a Merchant Acquirer Limited Purpose Bank (“MALPB”) charter in Georgia stands out for its speed and efficiency. After submitting its application in January 2024, Fiserv received its charter on...more
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
There are certain nonbank markets that the Consumer Financial Protection Bureau (“CFPB”) has the statutory right to supervise irrespective of size (e.g., mortgage, private education loan, payday lending). Then, there are...more
Regulatory scrutiny of the payments industry remains intense. Meanwhile, regulators’ expectations of payment processors, ISOs, and payment facilitators have never been higher. Recent enforcement actions have not been limited...more