News & Analysis as of

Banking Sector Financial Services Industry Debit and Credit Card Transactions

Ballard Spahr LLP

Republicans ask federal banking agencies to withdraw rules, guidance

Ballard Spahr LLP on

Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more

Ballard Spahr LLP

Senators Sanders, Hawley introduce legislation to cap credit card interest rates at 10%

Ballard Spahr LLP on

Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more

American Conference Institute (ACI)

[Event] 24th National Forum on Prepaid Accounts Compliance - April 8th, New York, NY

The 24th National Forum on Prepaid Accounts Compliance will address the latest developments impacting the prepaid industry and provide answers to the most pressing questions and challenges being faced by practitioners in this...more

Wilson Sonsini Goodrich & Rosati

The Fed Proposes a Sea Change in Debit Card Interchange Fee Regulation

The Federal Reserve Board has proposed a new rule for public comment that would significantly lower the cap on interchange fees that debit card issuing banks (issuers) may charge a merchant’s bank (an acquiring bank) for...more

Goodwin

2021 Year in Review: Consumer Finance

Goodwin on

[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Hudson Cook, LLP

GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule

Hudson Cook, LLP on

Businesses using ACH will soon have to comply with a new rule, the WEB Debit Account Validation Rule, related to account validation. The effort – meant to help combat fraud and protect users – has also been a source of...more

Carlton Fields

Sorry, But Your Credit Card (Class Action) Has Been Declined

Carlton Fields on

The Eastern District of New York recently declined to certify a putative class action filed by merchants against the four major credit card providers alleging antitrust violations. ...more

Ballard Spahr LLP

Financial Choice Act slated for House floor vote during week of June 5

Ballard Spahr LLP on

On May 26, the House of Representatives Committee on Rules announced that House members have until June 2 to propose amendments to the Financial Choice Act bill. The Chairman of the House Financial Services Committee, Jeb...more

Stinson - Corporate & Securities Law Blog

CFPB Week in Review

The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently: Enforcement Actions and Litigation - Enforcement Action Against Santander Bank - ...more

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