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On July 18, the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS ACT) was signed into law, creating the first federal regulatory framework for payment stablecoins. The law prohibits the issuance...more
Earlier this year, North Dakota’s Governor signed HB 1127, which introduces new compliance obligations for financial corporations operating in North Dakota. This new law will take effect on August 1, 2025....more
Financial institutions that use code-based tracking technologies may soon find themselves facing increased scrutiny and legal exposure as the next wave of class action litigation begins. On December 19, 2024, a member of...more
Recently, the U.S. District Court for the Northern District of Illinois Court granted a partial preliminary injunction sought by banking associations against the Illinois Attorney General over the Illinois Interchange Fee...more
Those who have spent time critically thinking about the California Consumer Privacy Act (CCPA), can undoubtedly identify a number of ambiguities and uncertainties. Some of those may be resolved through the current legislative...more
In a recent case involving hackers that stole "payment card data" from Chipotle, Judge William J. Martinez in the United States District Court for the District of Colorado found on an issue of first impression that payment...more
Visa, Inc. announced on August 18th that it has reached a settlement with Target for $67 million to reimburse Visa for costs associated with the Target data breach in late 2013, including issuing millions of new cards to...more