GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
The practice of charging consumers a fee for paying via credit card — known as surcharging — has been both increasingly common and increasingly controversial over the last decade. Visa and Mastercard first began to allow...more
On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") proposed a new rule, to be codified at 12 C.F.R. § 1090.109, that would bring general-use digital payment processors who process more than five million...more
On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more